- Circle recently released a comprehensive report on the current state of the USDC economy.
- Since its launch in 2018, the total transaction volume of the USDC stablecoin has surpassed an impressive $12 trillion.
- In 2023 alone, Circle facilitated transfers worth $197 billion between the banking industry and blockchain networks.
Circle, the issuer of the USDC stablecoin, has presented an in-depth report on the digital asset ecosystem. Since entering the cryptocurrency market five years ago, the total transaction volume of USDC has exceeded an incredible $12 trillion.
The report highlights that in 2023, the company successfully processed transfers worth $197 billion between the banking sector and various blockchain networks. Moreover, the total number of transactions conducted over a span of 12 months reached an impressive 595 million.
Circle representatives emphasized that the number of wallets holding a balance of at least 10 USDC experienced a significant increase of 59% within the past year. Currently, there are 2.7 million such wallets, and USDC is compatible with 15 different blockchains as of early 2024.
“This past year’s report underscores the transformative impact of USDC in promoting financial inclusion and accessibility, demonstrating our dedication to building a globally adopted network of open money,” stated Jeremy Allaire, the CEO of Circle.
The report also includes several case studies featuring prominent fintech companies, such as:
- Visa,
- MoneyGram,
- Nubank,
- Stripe,
- Worldpay, and others.
Furthermore, in January 2024, Circle discreetly filed for an initial public offering (IPO) in the United States. The issuer’s representatives submitted the necessary documents via the confidential Form S-1 to the US Securities and Exchange Commission.
It is worth noting that we previously reported on Circle receiving conditional approval from the French regulatory authority.