USDC Surges 209% as Alternative to USDT

USDC is gaining traction as an alternative to USDT in stablecoin market share. According to NOWPayments data, USDC's transaction counts on their platform jumped 209.02% year over year in the first half of 2026. Meanwhile, USDT still dominates with a 66.92% share of total stablecoin transaction volume on NOWPayments.

While USDT is not losing its grip on global commerce, USDC's growth rate is notable. Its transaction count increased by 101.63% over the same period as last year. The regulatory angle may be contributing to this surge, particularly in Europe with the Markets in Crypto-Assets (MiCA) framework. USDC fits within these regulations, giving European companies a clearer path to compliant crypto infrastructure.

Businesses are increasingly using stablecoins for payment rails beyond just speculative activity. Stablecoins like USDC and USDT are being used by companies for payroll, affiliate commission programs, and high-value transfers. The network choices of businesses matter more than people think, with different cost structures and settlement speeds affecting how a company builds its payment infrastructure.

While it's common to frame USDT and USDC as rivals, the data suggests that businesses are choosing to run both. This flexibility gives companies an option for regulated markets in Europe and global scale through USDT. The shift towards stablecoins diversifying may lead to increased competition and innovation in the sector.