USDC has emerged as a powerful force in the stablecoin market with a record market cap that reached $60.3B by the end of March 2025. Over the previous year its circulating supply grew by 80% and it added more than $16B between January and March 2025. As a result its share of the total stablecoin market rose from 21% to 26% in Q1 2025 while the broader stablecoin sector swelled to $233B with USDC driving most of that 15% increase.

Circle has expanded USDC across multiple blockchains led by Ethereum and Solana. On Ethereum 60% of USDC supply now resides while Solana accounts for 16%. The remaining supply flows through Algorand, Stellar, Base, Avalanche, Tron and several other networks as developers and traders take advantage of the token’s liquidity and low costs.

Regulators around the world have embraced USDC. Circle became the first issuer to meet EU MiCA requirements in December 2024 and Canadian authorities approved it under their new value referenced crypto asset rules, in Ontario and Quebec. In Asia regulators in Japan and Dubai formally listed USDC for trading and custody under their token frameworks. These approvals have paved the way for global banks  trading platforms, and corporate treasuries to integrate USDC into their operations.

This mainstream acceptance has led to more than $20T in USDC transactions to date with monthly volumes often exceeding $1T. Over $850B moved across blockchain bridges, in the past year, to support on chain liquidity. Major DeFi platforms such as Aave, Uniswap, Compound, and Morpho, now rely on USDC as a core source of liquidity and collateral. These developments illustrate how USDC has evolved into a foundational digital dollar for payments, DeFi, and capital markets across the globe.