Circle Says Usdc Crosses $ 18 Trillion Lifetime Transactions Milestone

Circle, the issue of the USDC stablecoin, say that the circulation of the digital asset cloped a year-on-yar growth of 78 percent. Around November 2024, the company revised that the monthly transaction volume of the USDC token touched the $ 1 trillion (roughly Rs. 86,39,270 Crore). The company states in a report that since its launch in September 2018, USDC’s volume has touched $ 18 trillion (roughly Rs. 15,55,21,000 brore) in all-time volume. Us-based circle is headquartered in boston, massachusetts. Its USDC Stablecoin, Pegued Against The Us Dollar, Rivals Tether in the StableCoin Market.

While tether is touted as the largest stablecoin by market cap, Circle is said to be the second-largest token in the stablecoin space. The Holders of USDC can convert fiat-to-crypto, while have also having the option to use the tokens to process payments to avoid additional payment charges. According to coinmarketcap data45.76 billion USDC tokens are in Currently in Circulation.

Circle says improved scalability of new blockchains accelerated the adoption of USDC

In its ReportCircle credits the growing regulatory Clarity and improved the scalability of new blockchains that have accepted the adoption of usdc.

“This TORD TOWD Regulatory Clarity will engines confidence in usdc among households, firms, and financial instruments. At the same time, developers are simplifying the user experience and pushing complexities. Blockchains that have solved major scaling issues can now enable usdc payments Around the world that cost just a fraction of a penny, “The company said.

In 2021, Circle was investigated by the US sec as the company discussed plans to go public via a special purpose accusation vehicle, or spac. IT Reportedly Filed for an ipo in January 2024.

Despite a bunch of regulatory and growth-Related Hiccups, Circle Claimed that the USDC ecosystem has contained to show shower growth over the Years, Globally. The report claims that fintech executives are rapidly undersrstanding the need to expand the infrastructure for instant payments.

“The growth of the USDC economy reflects a bigger trend towed openness in Finance, where technology advancs. Usdc and open financial infrastructure are at the center of the emerging internet financial system, ”The report added.

Last Year, Circle Teamed up With Sony to expand the USDC ecosystem through the soneium blockchain. The collaboration aims to position usdc as a key token with the soneium network.

In December 2024, Binance joined Forces with the USDC-RESUER to Adopt the Stablecoin for the Maintenance of its own treasury.

Jeremy Allaire, The CEO of Circle has asked The us authorities to get serial about considering the legalization of stablecoins that can digitise the us dollar. Allaire believes that the us banking crisis has triggered a need for the country to consider the legalization of stablecoins.