Stablecoins
Rising Trading Volume of USDC Stablecoin Signals Growing Demand for Compliance
Tuesday. July 9 at 8:00 PM
1 min. readThe trading volume of the USDC stablecoin has surged to $23 billion annually, driven by a rising need for transparency in the crypto market. The implementation of the MiCA framework has played a crucial role, with qualified stablecoin issuers receiving updated guidelines. A recent Kaiko report reveals that Circle's USDC has experienced a significant increase in weekly trading volume in 2024, surpassing last year's $9 billion and 2022's $5 billion. This growth has positioned USDC to challenge the market share of First Digital USD. Centralized exchanges dominate the trading volumes, indicating a preference for compliant stablecoins. The MiCA framework's impact on the market has been substantial, with stablecoin issuers like Circle securing licenses for Euro-denominated stablecoins. The compliance with MiCA regulations has boosted the popularity of USDC, attracting institutional investors seeking regulated alternatives in the stablecoin market.