Circle USDC Soars $100M in Weekly Circulation Boost

Key Points: Circle has made significant moves in the cryptocurrency market by issuing and repurchasing a substantial amount of USDC over the past week. These actions have resulted in an increase in USDC circulation by $100 million.

Timeline of Usd-coin

FinTech company and issuer of USD Coin (CRYPTO: USDC), Circle introduced the native stablecoin liquidity access on the Layer-1 Blockchain NEAR (CRYPTO: NEAR) protocol ecosystem. Circle has officially issued Native USDC and is always redeemable 1:1 for U.S. dollars.

As the list of Web3 players is growing, the Kresus crypto SuperApp has extended its crypto cash-out service, allowing users to off-ramp at 0% fees when they withdraw USDC through integrating with Coinflow Labs. On- and off-ramp processes are one of the weak links connecting the crypto economy to the broader financial system.

Coinbase is now offering up to a 5% interest rate on any USDC held on the exchange, up from the 4% introduced earlier in the year. Based on historical data from the company's website, the increase marks an impressive 150% bump from the 2% reward rate on USDC that was active as of June 9.

In a recent revelation, Michael Barr, a vice chair for supervision at the US Federal Reserve, has voiced apprehensions over the growing influence of unregulated stablecoins pegged to the US

Krafton, the game development company renowned for its popular battle royale game PUBG: Battlegrounds, has announced plans to launch Settlus, a layer 1 blockchain utilizing the Cosmos SDK.

USDC stablecoin issuer Circle is likely set to make a big announcement soon following the recent revelation that US-based crypto exchange Coinbase acquired a stake in the company. The deal announcement came at a crucial time when the US lawmakers are working on a bill to regulate the stablecoin market.

The major stablecoin company Circle said it will launch its USDC stablecoin natively on two blockchains in the first week of September. The company said on Aug. 30 that it will launch USDC on Optimism's OP Mainnet.

Circle has announced an innovative cooperation with renowned e-commerce platform Mercado Libre in a strategic deal to transform the digital payments sector. Meanwhile, the collaboration will introduce the well-known stablecoin, USD Coin (USDC), to users of Mercado Libre's subsidiary Mercado Pago.

In a strategic move towards enhancing the digital payments landscape, fintech powerhouse Circle has unveiled a groundbreaking partnership with e-commerce titan Mercado Libre on August 29th. The objective of this collaboration is to introduce the widely recognized USD Coin (USDC) stablecoin to the Mercado Pago online payment platform, a subsidiary of Mercado Libre.

Circle CEO Jeremy Allaire has announced that its USDC stablecoin will launch natively on the Base Network next week. A New Home For USDC Circle CEO Jeremy Allaire has revealed that the USDC stablecoin will soon find its native home on the Base Network, with the launch scheduled for next week.