Bitcoin
Bitcoin (BTC)
$116,810.00 1.46199
Bitcoin price
Ethereum
Ethereum (ETH)
$4,518.74 -0.17899
Ethereum price
BNB
BNB (BNB)
$958.98 4.04572
BNB price
Solana
Solana (SOL)
$236.52 0.86956
Solana price
XRP
XRP (XRP)
$3.04 1.6166
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000132 0.74699
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000111 3.07818
Pepe price
Bonk
Bonk (BONK)
$0.0000242 4.28921
Bonk price
dogwifhat
dogwifhat (WIF)
$0.957313 8.54429
dogwifhat price
Popcat
Popcat (POPCAT)
$0.27332 3.11182
Popcat price
Bitcoin
Bitcoin (BTC)
$116,810.00 1.46199
Bitcoin price
Ethereum
Ethereum (ETH)
$4,518.74 -0.17899
Ethereum price
BNB
BNB (BNB)
$958.98 4.04572
BNB price
Solana
Solana (SOL)
$236.52 0.86956
Solana price
XRP
XRP (XRP)
$3.04 1.6166
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000132 0.74699
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000111 3.07818
Pepe price
Bonk
Bonk (BONK)
$0.0000242 4.28921
Bonk price
dogwifhat
dogwifhat (WIF)
$0.957313 8.54429
dogwifhat price
Popcat
Popcat (POPCAT)
$0.27332 3.11182
Popcat price
Bitcoin
Bitcoin (BTC)
$116,810.00 1.46199
Bitcoin price
Ethereum
Ethereum (ETH)
$4,518.74 -0.17899
Ethereum price
BNB
BNB (BNB)
$958.98 4.04572
BNB price
Solana
Solana (SOL)
$236.52 0.86956
Solana price
XRP
XRP (XRP)
$3.04 1.6166
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000132 0.74699
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000111 3.07818
Pepe price
Bonk
Bonk (BONK)
$0.0000242 4.28921
Bonk price
dogwifhat
dogwifhat (WIF)
$0.957313 8.54429
dogwifhat price
Popcat
Popcat (POPCAT)
$0.27332 3.11182
Popcat price
Bitcoin
Bitcoin (BTC)
$116,810.00 1.46199
Bitcoin price
Ethereum
Ethereum (ETH)
$4,518.74 -0.17899
Ethereum price
BNB
BNB (BNB)
$958.98 4.04572
BNB price
Solana
Solana (SOL)
$236.52 0.86956
Solana price
XRP
XRP (XRP)
$3.04 1.6166
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000132 0.74699
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000111 3.07818
Pepe price
Bonk
Bonk (BONK)
$0.0000242 4.28921
Bonk price
dogwifhat
dogwifhat (WIF)
$0.957313 8.54429
dogwifhat price
Popcat
Popcat (POPCAT)
$0.27332 3.11182
Popcat price

Circle CEO reveals massive USDC adoption outside US

Yana Khlebnikova
Edited by
News
Circle CEO reveals massive USDC adoption outside US

Circle’s CEO, Jeremy Allaire, unveiled that approximately 70% of USDC adoption occurs outside the United States. 

Despite the perception that USDC primarily caters to the US market, emerging economies and developing regions emerge as strongholds for this stablecoin.

Allaire stated that an estimated 70% of USDC adoption is non-US, and some of the fastest-growing areas are emerging and developing markets.

He underscored the vigorous progress made across Asia, Latin America, and Africa.

This statement aligns with Paolo Ardoino, the CTO of Tether. Ardoino had earlier emphasized that Tether’s USDT can be a safe instrument for emerging markets and developing countries. 

https://twitter.com/paoloardoino/status/1623644473652551680?s=20

Allaire praises Paypal’s stablecoin plans

Allaire’s remarks coincided with the news of PayPal’s venture into the stablecoin landscape, introducing its USD-pegged stablecoin, PayPal USD (PYUSD). 

Allaire praised this move, highlighting the significance of major internet and payments corporations entering the stablecoin arena. The moguls joining the stablecoin field means that regulatory clarity will soon follow, Circle CEO thinks.

Circle’s liquidity concerns

Addressing the ongoing dynamics of USDC’s market share, Circle has been working to maintain its position in the stablecoin market. Currently, the supply of USDC has experienced a decline due to a dip in demand and increased redemptions, causing liquidity concerns. 

In response to that, Allaire affirmed that the redemptions had exceeded issuance. According to him, the company issued $5 billion USDC over the last month and had redeemed $6.6B USDC.

Allaire also noted that the company’s network of banking partnerships is growing, ensuring a wide-ranging global presence for USDC. 

Moreover, the Monetary Authority of Singapore granted Circle a Major Payment Institution (MPI) license in June, adding to the company’s international outreach.