Circle's USDC Surges as It Catches Up with Tether

Circle Internet Group's stock has surged by 10% on August 19, as reports emerge that its stablecoin USDC is gaining traction against arch-rival Tether.

Data from NOWPayments shows that while Tether's USDT remains the dominant stablecoin in terms of business transaction volumes, Circle's USDC is experiencing significant growth.

In the first half of 2026, transactions using USDC increased by 209% year-over-year and transaction volume rose by 101%. In contrast, Tether's USDT transaction activity declined during the same period.

NOWPayments notes that while Tether's USDT continues to offer scale and liquidity, Circle's USDC is becoming a popular choice among businesses for payroll and treasury transfers.