USDC Hits New Record: Surpasses $56 Billion, Leading the Stablecoin Market

Over the past year, USDC has experienced significant growth, becoming one of the most trusted and widely used stablecoins worldwide. With a more than 100% increase compared to the same period last year and an additional $12 billion added since the beginning of the year, the total supply of USDC has reached an all-time high, surpassing $56 billion.

This surge reflects the growing demand from institutions, merchants, and individual users for USDC in payments, remittances, trading, and decentralized finance (DeFi). As a founding partner, Coinbase has integrated and enhanced USDC’s core utility, making it easier for millions of users worldwide to access digital dollars.

Expanding USDC’s Utility

Coinbase has enabled global customers to earn up to 4.5% APY on USDC, providing both individual and institutional users with a reliable way to benefit from holding USDC. Additionally, Coinbase has expanded USDC’s utility by allowing customers to borrow USDC using their Bitcoin holdings as collateral to cover large expenses.

USDC is now available on more than 10 networks, including Arbitrum, Base, Optimism, Solana, and Sui, with Unichain and Aptos set to be added soon.

This expansion not only strengthens USDC’s position in the on-chain financial ecosystem but also opens up new opportunities for users to leverage the stablecoin for payments, investments, and savings.