Circle’s USD Coin has reached a significant milestone on Tuesday, having surpassed $50 billion in circulating supply for the first time since launching in May 2018. With its recent expansion to the Flow platform, USDC is now providing liquidity and stable value transfers on eight different blockchain ecosystems, including Ethereum, Avalanche, Tron, and Solana.
Solana Labs, the creators and developers of the leading proof-of-stake (PoS) blockchain Solana, have launched Solana Pay, a new payments service that allows merchants and customers to use crypto as a payment method. Sheraz Shere, the head of Payments at Solana Labs, explains:
Circle announced the launch of its USD Coin (USDC) on Flow, one of the most widely used Web3 platforms. The expansion to Flow comes roughly two months after USDC launched on one of the leading decentralized finance (DeFi) networks, Avalanche (AVAX).
The total supply of USD Coin on the Ethereum blockchain has surpassed Tether’s total supply for the first time last week. According to data from blockchain analytics firm The Block, USDC’s supply now amounts to $40.2 billion, while USDT’s Ethereum supply comes in second with $39.8 billion.
Tether, the owner and operator of the largest stablecoin network in the world, has blacklisted three Ethereum addresses on Thursday, and effectively froze $150 million in USDT split among them.
Circle, the developer of the market’s second-largest stablecoin, has launched its flagship digital asset and widely used USD Coin (USDC) stablecoin as a native asset on Avalanche (AVAX). The company believes native USDC support will increase liquidity and boost the popularity of decentralized applications deployed in the Avalanche ecosystem.
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