USDC as a Platform for Global Prosperity

2025-01-16 15:42:30 Primitive Reading

From circle by Jeremy Allaire

The past year marks a major leap forward in the growth and maturation of the USDC economy. Around the world, there is significant momentum as more people and businesses tap the power of digital dollars on blockchain networks. Developers continue to discover the power of USDC and Circle’s technologies as a platform for building apps that can make global commerce and finance better, faster, and more inclusive.

Usage trends help quantify this momentum. USDC in circulation grew by more than 78% year-over-year1 — faster than any other large, global stablecoin. Monthly transaction volume, meanwhile, reached $1 trillion in November 2024 alone while surpassing $18 trillion in all-time volume.2

The USDC user base is also robust and going mainstream. Through expanding partnerships with leading digital asset exchanges, banks, and wallets, USDC is now accessible to more than 500 million end-user wallet products, supporting a range of use cases from crypto capital markets activities to dollar store of value, and a growing wave of payments applications around the world.

Beyond the US dollar’s preeminent role in trade, payments, and global finance, three factors are poised to accelerate the adoption and utility of USDC. First, legal and regulatory clarity; second, the scalability of new blockchain networks; and third, superior UX.

Around the world, emerging stablecoin rules are creating robust standards that protect consumers and pave the way for broader institutional integration, consistent with Circle’s way of doing business. There are strong signs that the U.S. will soon follow suit and play a major role in harmonizing these rules globally. This trend toward regulatory clarity will engender greater confidence in USDC among households, firms, and financial institutions.

At the same time, blockchain infrastructure is rapidly improving, becoming faster, safer, and more resilient. Developers are simplifying the user experience and pushing complexities to the background so that the tech “just works.” Blockchains that have solved major scaling issues can now enable USDC payments around the world that cost just a fraction of a penny.

Relatedly, the number of durable connection points between USDC and traditional finance is proliferating. Circle’s expanding global banking network adds direct wholesale access to USDC in many of the world's financial centers. The expanding number of on- and off-ramps can unlock more traditional payments use cases, including global payroll, supplier payments, remittances, merchant payments, and more.

Together, these upgrades mirror the way that dial-up internet and rudimentary browsers evolved into broadband and the mobile web, with search and e-commerce bringing all of the world’s knowledge and salable goods to the fingertips of billions.

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.