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As 2024 progresses, stablecoins are seeing remarkable growth. Their market dominance has climbed to 6.93%, continuing a ten-month trend of increasing value.

Tether (USDT) has long been the leading stable coin, commanding over 70% of the market share. However, recent developments suggest that USDC is making significant strides, with its market share rising by 37% since the collapse of Silicon Valley Bank (SVB).

USDC trading volume climbed 48% in July thanks to the MiCA regulatory framework and significant market inflows. USDC Trading Volume Hits $135 Billion New regulations in Europe regarding digital assets and a jump in market inflows caused Circles stablecoin trading volume to skyrocket in July.

As of July 25, the market cap of USD Coin (USDC) increased 5.4% to $33.6 billion. Circle was the first stablecoin issuer to get approval from EU authorities.

Tether's USDT has become dominant with over 70% market share, after USDC's decline following the SVB collapse.

The market capitalization of stablecoins increased by 2.1% to $164 billion in July, the highest level since April 2022.

The General Inspection of Justice (IGJ) has approved the registration of a company whose capital includes Bitcoin (BTC) and USD Coin (USDC). This landmark decision marks the first instance in Argentina where cryptocurrencies have been officially recognized as part of a company's initial capital investment.

Ferrari, the luxury Italian automaker, has announced plans to extend its crypto payments scheme to Europe following the massive success in the United States.

The stablecoin economy is experiencing renewed growth. Over the past week, the market capitalization of all stablecoins increased by $1.52 billion. The growth over the past seven days was primarily driven by tether (USDT), the largest stablecoin by market valuation, with its supply expanding by 1.2 billion coins.

In an Argentina national first, a law firm says a regulator let it register a firm whose capital is partially made up of Bitcoin (BTC) and USD Coin (USDC).

Polygon (MATIC) CDK is the first chain development kit to integrate Circle's Bridged USDC Standard, offering seamless upgrades and improved liquidity.

Stablecoin issuer Circle has introduced Social Logins and Email OTP verification to make user onboarding easier. This is in a bid to make Web3.0 accessible to Web2 users.

The world of cryptocurrencies is constantly evolving, and one of the stablecoins that has seen significant growth in 2024 is USDC (USD Coin), also due to the European compliance of MiCa.

In this article, the uses, risks, and other topics of interest related to stablecoin will be explored.

All stablecoins are equal, but some stablecoins are more equal than others - Basel Committee

USDC's growing role in DeFi could reshape the stablecoin market, potentially driving innovation and diversifying use cases beyond trading pairs. The post USDC gains ground in DeFi as competition with USDT intensifies: Keyrock report appeared first on Crypto Briefing.

TL;DR BIS Targets Stablecoins: The Bank for International Settlements (BIS) has issued amendments to its crypto asset standards, focusing on stablecoins like USDT and USDC. Regulatory Preferences: Stablecoins on permissioned blockchains will receive favorable regulatory treatment, while those on permissionless blockchains face stricter scrutiny.

Under MiCA, OKX said it plans to offer spot trading, in addition to buy, sell, convert and staking services to eligible EU residents.

After a downtown, crypto is facing another terror called regulatory interference. The Bank of International Settlements (BIS) has issued new guidance tightening criteria for stablecoins, specifically targeting those issued on permissionless blockchains like Tether's USDT and Circle's USDC. This move could impose significant restrictions on these widely used stablecoins.

All stablecoins issued on the permissionless blockchains such as Tether's USDT and Circle's USDC face the danger of major regulatory wrath ahead as the Bank of International Settlements (BIS) has issued new guidance tightening its criteria over permissionless stablecoins. BIS Targets Stablecoins like USDT and others On Wednesday, July 17, the Basel Committee on Banking

Caliza, a fintech company headquartered in the U.S. but focused on Latam, has raised $8.5 million in a funding round led by Initialized, seeking to expand the reach of its foothold in Brazil. The company offers B2B solutions focusing on USDC, Circle's regulated stablecoin, providing rails for easing cross-border payments for its customers.

Binance introduces a new promotion for Ethereum users, offering $40,000 USDC in rewards for depositing, copying, or trading selected tokens.

Tether's long-held dominance in the stable coin market is experiencing a significant decline, with its market share plummeting to 74% in 2024. This shift coincides with a surge in popularity for USDC (USD Coin), reflecting evolving investor preferences and heightened regulatory scrutiny in the digital asset landscape.