Kaiko Report Highlights Circle’s USDC as Leading Regulated Stablecoin in Demand
Kaiko, a crypto intelligence firm, reports that USDC, Circle’s primary stablecoin, is experiencing the highest demand among regulated stablecoins.
Following Circle’s announcement of compliance with the European Markets in Crypto-assets Regulation (MiCA). Both USDC and EURC have seen significant increases in trading volume. Despite non-compliant stablecoins currently dominating 88% of the market, regulated stablecoins are gaining traction due to growing transparency preferences. Major exchanges like Binance, Bitstamp, Kraken, and OKX have begun delisting non-compliant stablecoins for European users, potentially shifting market dynamics towards compliant options.
USDC’s popularity is further bolstered by its use in perpetual futures settlements, although its market share remains smaller compared to USDT. The rise in USDC’s adoption for perpetual trading reflects investor preferences amidst evolving stablecoin regulations.
Clever Robot News Desk 11st July 2024
