70% of USDC Adoption Comes from Outside the US, Says Circle CEO Jeremy Allaire
Circle CEO Jeremy Allaire recently stated that a significant portion of USDC adoption, around 70%, is happening outside the United States. He emphasized that emerging and developing markets are some of the fastest-growing areas for USDC. Notably, strong progress is being made in Asia, Latin America (LATAM), and Africa. Allaire also highlighted the high demand for safe and transparent digital dollars in these regions. It is worth mentioning that Circle did not respond to Decrypt’s request for comment.
Key points:
– 70% of USDC adoption is non-US, with emerging and developing markets experiencing rapid growth.
– Asia, LATAM, and Africa are witnessing strong progress in adopting USDC.
– There is a high demand for secure and transparent digital dollars in these regions.
– Circle, the issuer of USDC, has not hesitated to lobby US lawmakers, urging them to protect stablecoins.
– USDC’s market capitalization has dropped by over 50% in the past year.
Hot Take:
Jeremy Allaire’s statement sheds light on the global adoption of USDC, indicating that the majority of its usage is happening outside the US. The growing interest in emerging and developing markets, particularly in Asia, LATAM, and Africa, showcases the potential for digital dollars in these regions. However, it is important to closely monitor USDC’s market capitalization, which has seen a significant decline. Overall, the demand for secure and transparent stablecoins remains high worldwide.
By
By
By