Circle, an American fintech heavyweight, publishes its 2025 USDC State of the US Economy Report. The document records a set of impressive milestones achieved by the USDC stablecoin in terms of trading volume, number of users, service integration and regulatory compliance in various jurisdictions.

A new report says USDC by Circle will become the fastest growing stablecoin in 2024

In 2024, the total transaction volume of the USDC stablecoin exceeds $20 trillion. Just in November, amid a sharp rally in cryptocurrency markets, USDC processed $1 trillion in 30 days, a new high. a report By circle says.

In terms of circulating supply, USDC recorded a 78% annual growth. It is now the fastest-growing major stablecoin in the cryptocurrency space, the second-largest USD-pegged asset by market capitalization, and the seventh-largest altcoin. Its net capital exceeds $45 billion, while its largest competitor, USDT by Tether, has a cap of $137 billion.

USDC is available to 500 million end users and cryptocurrency applications in more than 180 countries and regions around the world. The Cross-Chain Transfer Protocol (CCTP) has now facilitated over $20 billion in USDC transfers across supported L1 and L2 blockchains.

As of press time, USDC has been issued on 16 networks, including Algorand, Arbitrum, Avalanche, Base, Celo, Ethereum, Hedera, NEAR, Noble, OP Mainnet, Polkadot, Polygon PoS, Solana, Stellar, Sui, and ZKsync, with more being minted. Ongoing agreements.

As mentioned in the report, USDC is seamlessly available on major centralized and decentralized fintech applications, including the likes of Coinbase, Moneygram, Stripe, dYdX, Nubank, etc.

The department is betting big on USDC regulatory compliance

2024 also brings a number of regulatory compliance milestones to the USDC. Amid growing regulatory hostility, the stablecoin has become compliant with regulations in the European Union and Canada.

Circle is the first major global stablecoin issuer to adhere to the EU's MiCA framework and the first stablecoin issuer to meet Canada's listing rules.

As previously covered by U.Today, Ripple, another US fintech heavyweight, released its stablecoin, Ripple USD (RLUSD), in December 2024. The RLUSD issuance was approved by the New York Department of Financial Services.