USDC stablecoin Financial News

A recent study conducted by Visa and Allium Labs has found that more than 90% of stablecoin volumes do not originate from genuine users.

Circle stablecoin, USDC, had achieved an important milestone in the stablecoin market, surpassing Tether’s USDT in transaction volume, according to data released by Visa on April 29 through a partnership with Allium Labs.

crypto firm Circle will end support for its USDC token on the Tron blockchain network, a decision the company said on Wednesday «aligned with its efforts to ensure that USDC remained trusted, transparent and safe». Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.

Tron blockchain network, a decision the company said on Wednesday «aligned with its efforts to ensure that USDC remained trusted, transparent and safe». Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.

The XRP price has dropped by 2.5% today, falling back to $0.5182 as the wider crypto market loses 1% in the past 24 hours.

Circle, a crypto issuer, reported a significant increase in remittances flowing through Asia via its USDC stablecoin. USDC is a cryptocurrency pegged to the value of the U.S. dollar and is backed by liquid cash and cash-equivalent assets. It has settled over $12 trillion in blockchain transactions since its introduction in 2018.

Circle Internet Financial – the issuer of the world’s second-largest stablecoin, USD Coin (USDC) – has quietly filed for an initial public offering (IPO) with federal regulators.

Circle Internet, the issuer of USD Coin stablecoin, is eyeing a potential initial public offering (IPO) in early 2024, according to Bloomberg.

Circle, the stablecoin issuer, has announced its plans to begin minting USD Coin (USDC) directly on the Polygon network.

Stablecoin issuer Circle has announced the official launch of USDC, the second largest stablecoin by market cap, in the Polkadot Asset Hub parachain. 

USD Coin (USDC), the second-largest stablecoin by market capitalization after Tether (USDT), continues expanding across different blockchain networks, now being launched on Polkadot.

Fintech company Circle announced a partnership with Mercado Libre on Aug. 29 to bring the USD Coin stablecoin to Mercado Pago.

According to Circle's blog post released on August 21, Cryptocurrency exchange Coinbase has bought a minority stake in Circle Internet Financial while dissolving their Centre Consortium partnership that had issued USD Coin (USDC), the world's second-largest stablecoin.

Circle, the US-based payments firm which issues the USD coin (USDC) stablecoin, is set to launch its coin natively on Arbitrum, an Ethereum (ETH) scaling solution, with the kick off scheduled for June 8. 

The popular stablecoin USD Coin (USDC) has seen outflows of around $3 billion over three days this week, issuer Circle said in a blog post on Thursday.

Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The moves came as authorities took possession of New York-based Signature Bank, the second bank failure in a matter of days. Stablecoin USD Coin (USDC), which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. It was at $0.9917, closer to par and up from last week's lows around $0.88.

Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The moves came as authorities took possession of New York-based Signature Bank, the second bank failure in a matter of days.Stablecoin USD Coin (USDC), which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. It was at $0.9917, closer to par and up from last week's lows around $0.88.

USDC stablecoin is depegging – and at an alarming rate – falling to as low as $0.89, way off its $1 peg.

Binance, the world's biggest crypto exchange, said on Tuesday it had "temporarily paused" withdrawals of the major stablecoin USDC.

The market capitalization of USD Coin (USDC), a stablecoin issued by U.S.-based payment tech firm Circle, has dropped below $50 billion for the first time since January 2022.

The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC).