Hong Kong-based OKEx became the latest leading crypto exchange to list USD//Coin (USDC).
Just one month after USDC was launched, it is now listed on exchanges around the world and available to millions of customers. The unparalleled ecosystem supporting USDC demonstrates there is growing, global demand for the most open standard for fiat on the internet, which is what USDC represents.
USDC trading volume on exchange platforms, including Circle activity, has grown 2,000% week over week, with market capitalization now surpassing $30M, bolstered by interest for a more transparent and compliant USD token from market participants.
More than 40 exchanges, protocols, platforms, applications and wallets support USDC. You can see more USDC supporters here.
Investors and traders need seamless on and off-ramps for fiat currency into the exchange ecosystem, need to be able to hedge in and out of volatile crypto assets, and need to be able to move stable value across exchange venues to seek arbitrage and liquidity opportunities. USDC helps make all of that possible.
Because price-stable tokens are foundational requirements for enabling powerful new global financial contracts, products, and services on the internet, we expect to see widespread adoption for USDC in the months and years ahead. USDC is the first of several fiat tokens CENTRE expects to deliver, and Circle is the first of a number of forthcoming CENTRE members to launch USDC issuance.
Learn more about USDC and sign up or sign in to tokenize and redeem USD here.