Crypto
Circle's USDC Net Circulation Surges by 1 Billion Amid Stablecoin Demand Growth
Circle's USDC net circulation has increased by 1 billion tokens in the latest reporting period, according to the company's disclosures. This brings total circulation to 73.7 billion USDC.
The increase reflects continued demand for dollar-pegged digital assets, particularly in decentralized finance (DeFi) and cross-border payments. USDC remains one of the largest stablecoins by market capitalization, competing closely with Tether's USDT.
Circle holds reserves in cash and short-term U.S. Treasuries to back the stablecoin, which stands at roughly $74 billion according to the company. This reserve composition is a key trust factor for institutional users.