Circle, a U.S. fintech heavyweight, publishes 2025 State of the USDC Economy Report. The document registered an array of splendid milestones hit by USDC stablecoin in terms of trading volume, number of users, service integrations and regulatory compliance in various jurisdictions.

USDC by Circle becomes fastest-growing stablecoin of 2024, new report says

In 2024, aggregated transaction volume for USDC stablecoin exceeded $20 trillion in equivalent. In November only, amid a spike on crypto markets, USDC processed $1 trillion in 30 days, a new report by Circle says. 

In terms of circulating supply, USDC registered 78% yearly growth. It is now the fastest-growing major stablecoin in crypto, the second USD-pegged asset by market cap and the seventh-largest altcoin. Its net capitalization exceeds $45 billion, while its biggest rival, USDT by Tether, sits at a $137 billion cap.

USDC is available to 500 million end users and cryptocurrency applications in 180+ countries and territories across the globe. Cross-Chain Transfer Protocol (CCTP) has now facilitated $20B+ in USDC transfers across supported L1 and L2 blockchains.

As of press time, USDC is issued on 16 networks, including Algorand, Arbitrum, Avalanche, Base, Celo, Ethereum, Hedera, NEAR, Noble, OP Mainnet, Polkadot, Polygon PoS, Solana, Stellar, Sui and ZKsync, with more minting agreements underway.

As mentioned in the report, USDC is seamlessly available in major centralized and decentralized fintech applications, including the likes of Coinbase, Moneygram, Stripe, dYdX, Nubank and so on.

Circle bets big on USDC regulatory compliance

2024 also brought a number of regulatory compliance milestones to USDC. Amid increased regulatory hostility, the stablecoin became regulatory-compliant in the EU and Canada. 

Circle is the first major global stablecoin issuer to comply with EU’s MiCA framework and the first stablecoin issuer to meet Canada’s listing rules.

As covered by U.Today previously, another heavyweight U.S. fintech, Ripple, issued its stablecoin, Ripple USD (RLUSD), in December 2024. The release of RLUSD is approved by the N.Y. Department of Financial Services.