What is the issuance volume of USDC coins? One article introduces the application scenarios of USDC coins

The issuance volume of USDC coins has reached $44.54 billion, making it the second largest stablecoin by market capitalization.

Oct 09, 2024 at 05:30 pm

What is the Issuance Volume of USDC Coins?

1. Background

USD Coin (USDC) is a stablecoin pegged to the US dollar, developed by CENTRE, a consortium of Circle and Coinbase. USDC aims to provide a digital representation of the US dollar that can be used for global transactions and financial operations.

2. Issuance Volume

As of March 2023, the total issuance volume of USDC coins is approximately $44.54 billion. This makes USDC the second largest stablecoin by market capitalization, after Tether (USDT).

3. Application Scenarios

USDC is widely used in various financial applications, including:

• Cross-border payments: USDC facilitates quick and cost-effective cross-border transfers, as it can be sent and received instantly without the need for intermediaries or high transaction fees.
• Decentralized finance (DeFi): USDC serves as a stable asset in DeFi platforms, enabling users to lend, borrow, and trade digital assets with reduced volatility.
• Stable value storage: USDC provides a stable store of value for investors and businesses, as its value is pegged to the US dollar.
• Remittances: USDC allows for fast and low-cost remittances abroad, providing a convenient option for individuals sending money to other countries.
• Merchant payments: USDC can be used as a payment method by merchants, reducing the volatility risks associated with accepting cryptocurrency payments.