USD Coin (USDC), launched by Circle, is the second largest stablecoin by market cap. If the asset’s capitalization continues to grow at this rate, it could outpace USDT.
Circle’s CEO and co-founder Jeremy Allaire shared various data about USDC on Twitter.
Allaire stated that the market cap of USDC has exceeded $50 billion. He also emphasized that Circle has minted more than 100 billion USD in total.
USDC has thus experienced a growth of 10,000% in the last two years. The asset is backed by 200 blockchains, 34 exchanges and 223 digital currency wallets worldwide.
As of Q1 2022, USDC has been issued on eight different blockchains. Users in 175 countries can use USDC for DeFi and retail payments.
Allaire stressed the importance of USDC adoption for the dominance of the US dollar:
“If you’re wondering if the US dollar is winning the digital currency race, now you have an answer”
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