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Circle Reports Over $20 Trillion in USDC Transactions; Circulation Surges 78%

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  • USDC transaction volume hits $1 trillion monthly, reaching $20 trillion lifetime in 2024.
  • Circle’s USDC is now supported across 16 blockchain networks, boosting global interoperability.
  • Circle complies with the EU’s MiCA, securing an e-money license in France and EURC.

USD Coin Circle’s stablecoin has seen a 78% increase in usage and circulation, reaching over 500 million people worldwide. According to a report, its monthly transaction volume reached $1 trillion in November 2024, adding to the lifetime transaction volume of over $20 trillion. This growth has expanded due to use cases in various sectors like payments, remittances, and decentralized finance (DeFi).

Regulatory Oversight and Technological Development of USDC

Circle’s adherence to international laws has greatly helped increase confidence in USDC. Compliance with the European Union’s Markets in Crypto Assets (MiCA) and receiving an electronic money license in France have helped the company in the global markets. Due to the recent developments, Circle has successfully transferred USDC across Europe and other jurisdictions with similar legal systems.

Since USDC is now available on 16 blockchain networks, the company’s advancements, including the Cross-Chain Transfer Protocol (CCTP), have enabled cross-border transactions. This makes it possible to make transfers between blockchain networks nearly realistically, increasing its usefulness in the global financial system. This has provided the stablecoin with the necessary legal perspective and strong technological support, contributing to its growth and continuous expansion within the market and among financial institutions and fintech companies.

Expanding USDC’s Reach in Emerging Economies

Circle has concentrated its efforts on increasing the usage of USDC in emerging markets, especially in Latin America and Africa. These regions have noted a rising use of stablecoins as an inflationary hedge and a means of accessing the global financial system. Strategic collaborations with companies like Nubank and Chipper Cash have enabled Circle to leverage these opportunities since it provides dollar-denominated services to local populations.

Besides partnerships, the stablecoin has proven useful in areas such as humanitarian aid, where blockchain can help offer secure financial support in areas of conflict such as Ukraine. This has been amplified by the rise of use in global payroll and cross-border transfers, as having another payment gateway solution is critical. Furthermore, Circle’s global business plan and the increasing need for digital payment systems make USDC a strategic asset for promoting financial inclusion and economic power.

Solana Stablecoin Surge Reaches Record High Amid Market Uncertainty

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  • Solana’s stablecoin supply rises 7.11%, reaching $5.89B.
  • Circle’s $USDC minting boosts stablecoin influx.
  • Kamino Finance, Drift Protocol dominate stablecoin deposits.

Solana’s stablecoin supply has soared to $5.89B, reflecting a growing trend toward stable assets amid market turmoil. The surge, supported by Circle’s $USDC minting, highlights the network’s increasing resilience in uncertain times.

Solana stablecoin peaks

Solana’s stablecoin supply has reached its highest level in over two years, rising by 7.11% to $5.89 billion. This surge comes amid declining $SOL price, which has dropped more than 13% over the past week. As market volatility increases, more traders are rushing to stablecoins, particularly $USDC which they consider as safer assets.

The current supply sits just 5.76% below its all-time high of $6.25 billion, recorded in June 2022. Circle, the issuer of $USDC, has contributed to this development through minting $1 billion in new tokens in 2025. The ecosystem supports a wide range of fiat-pegged stablecoins such as the Euro, Japanese Yen and Australian Dollar.

The rising stablecoin supply signals a risk-off sentiment among Solana DeFi users. However, funds remain within the ecosystem, suggesting that traders are waiting for more favorable conditions to transfer. The introduction of yield-bearing stablecoins such as Solayer’s $sUSD and Ondo Finance’s $USDY also boosts the network’s Total Value Locked (TVL), which exceeds $138 million.

Solana’s DeFi space plays a key role in the growing stablecoin demand. Platforms like Kamino Finance and Drift Protocol have witnessed a surge in stablecoin deposits, with $567 million and $302 million in TVL respectively. These DeFi apps offer lucrative lending yields, further attracting capital to the network.

Yield aggregators such as Lulo Finance have also benefited from the stablecoin influx. Lulo Finance recently surpassed $110 million in Directed Liquidity, tracking deposits that automatically optimize yield for users. This surge shows the increased demand for efficient, high-yield opportunities within Solana’s decentralized finance landscape.

Lulo Solana
Solana Stablecoin Surge Reaches Record High Amid Market Uncertainty 2

Solana’s growing stablecoin market reflects wider trends in the cryptocurrency space. The Solana ecosystem remains resilient despite volatile market conditions and offers diverse stablecoin options. Traders continue to hold their stablecoins and refuse to cash out into fiat, suggesting confidence in a continued bullish trend for SOL in 2025.

Solana’s growing stablecoin market and DeFi infrastructure have increased the network’s appeal to new and experienced users.The increased flow of assets into SOL-based protocols strengthens its position in the cryptocurrency ecosystem. This growing market is likely to continue attracting attention as conditions change throughout the year.

Circle’s USDC Becomes 1st Stablecoin to Comply with Canadian Regulations

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  • USDC becomes the first compliant stablecoin in Canada ensuring its availability on registered crypto platforms.
  • Circle expands its global footprint including the EU and Singapore. It’s now eyeing Hong Kong as a strategic growth market.
  • Circle’s proactive approach positions it to capitalize on Hong Kong’s emerging stablecoin regulatory framework.

Circle Internet Financial, a leading global financial technology firm, today announced that its regulated subsidiary has become the first stablecoin issuer to meet Canadian securities standards. This paves the way for USDC to be offered on registered crypto asset trading platforms in the Canadian market.

This is a significant milestone as USDC now became the first major dollar stablecoin that is compliant with new regulations with the Ontario Securities Commission (OSC) and Canadian Securities Administrators’ (CSA) Value-Referenced Crypto Asset (VRCA) requirements.

Circle
Circle's USDC Becomes 1st Stablecoin to Comply with Canadian Regulations 4

By adhering to the VRCA framework, Canadian users can access USDC on a 24/7 basis even after the CSA’s December 31, 2024 deadline for delisting non-compliant stablecoins.

“Circle’s commitment to regulatory compliance is unwavering,” said Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle. “By complying with the VRCA requirements, we’re fostering a more transparent and accountable digital financial ecosystem in Canada.”

Circle’s proactive approach aligns with the CSA’s goal of establishing a robust regulatory framework for digital assets. This development promises to streamline cross-border transactions, enhance consumer protection, and reduce settlement risks within the Canadian financial system.

Circle’s USDC Leads the Way in Global Regulatory Compliance

Beyond Canada, Circle continues to actively engage with global regulators to ensure compliance with evolving regulatory standards. The company has secured licenses in various jurisdictions, including the U.S. and the European Union, making USDC a widely recognized and trusted stablecoin.

It is also expanding its footprint by targeting one of Asia’s largest capital markets, Hong Kong, as a significant growth market. Amid the region’s anticipated regulatory overhaul for stablecoins, Circle plans to establish a larger presence by expanding its local team and potentially securing a regulatory license.

As reported by TronWeekly, the Hong Kong government has been actively shaping its financial landscape to welcome stablecoin issuers via a structured sandbox program. The city-state aims to bring a legislative framework on a stablecoin by the end of the year that will see issuers meet specific guidelines, including a minimum capital requirement and full asset backing.

Considering this potential regulatory shift, Circle plans to be the first mover due to the better clarity of the region’s regulatory landscape. 

Solana Devs: Circle Unleashes Programmable Wallets

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Circle, a leading fintech firm is empowering developers in the Solana ecosystem through a host of new products. Beginning with Programmable Wallets and Gas Station, this integration allows developers to build decentralized applications [dApps] on Solana, offering enhanced security, flexibility, and streamlined user experiences.

Besides that, Programmable Wallets will curate in-app wallets tailored to various use cases.=, thanks to Circle’s flexible REST APIs. As per the blog post, one can easily integrate USDC and EURC for payments, financial services, and more with Circle’s full-stack platform. Some of the upcoming launches include adding support for NFTs, further expanding the use cases on the network

Future releases will include support for non-fungible tokens (NFTs), as well as program interactions through the Smart Contract Platform. These updates can unlock support for additional use cases such as NFT integration for brand loyalty and gaming, as well as the ability to interact and deploy your own programs on Solana. 

One of the standout features in these integrations is the ability to sponsor transaction fees on behalf of end users. With Circle’s Gas Station, developers can sponsor transaction fees on behalf of users to simplify the user experience. This feature, coupled with Solana’s lightning-fast transaction speeds, ensures a smooth and efficient experience for end-users.

Solana
Solana Devs: Circle Unleashes Programmable Wallets 6

Just recently Solana announced the launch of its first smart wallet, Fuse, now available for public Testing on iOS. As per the announcement, Fuse utilizes Squads Protocol smart accounts to deliver a programmable smart wallet experience that abstracts away seed phrases and offers wallet recovery and 2-factor authentication.

Solana’s Smart Wallet Revolution

Unlike traditional wallets that use simple data accounts limited to basic storage and transaction capabilities, smart wallets use dynamic, programmable tools, offering enhanced security, ease of use, and a wide range of new possibilities for managing digital assets.

The concept of smart wallets has gained prominence of late as influential figures in the crypto world, like Ethereum founder Vitalik Buterin, advocated for all wallets to transition to smart accounts. Even major players like Coinbase are building smart wallets, signaling a move towards this new standard.