Circle’s USD Coin (USDC) saw a significant 78% increase in circulation in 2024, reaching over 500 million end-users. Monthly transaction volumes exceeded $1 trillion in November 2024, while total all-time transaction volume surpassed $20 trillion. The stablecoin has bridged more than $850 billion between fiat currencies and is now supported on 16 blockchains. Despite this growth, USDC's market cap has not yet matched that of Tether (USDT), which has seen a slight decrease in its market cap. Circle has focused on regulatory compliance, aligning with EU regulations and Canadian listing rules, while Tether has been less proactive. Circle has also worked to boost adoption amongst the unbanked through partnerships and has processed over $20 billion in transactions through its Cross-Chain Transfer Protocol. Looking ahead, Circle anticipates growth in areas such as global payroll, tokenized trade, and the integration of stablecoins into traditional payment networks.

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