Circle’s USDC is leaving Tether behind in the stablecoin volume race, new data from Visa shows

60-second summary

Circle's USDC stablecoin is surging ahead of Tether in trading volume, according to new data from Visa, with a 63% spike in just one month, driven by Wall Street banks adopting digital currencies for faster settlements. This trend is expected to boost demand for stablecoins, potentially driving up adoption and usage in cross-border transactions and settlements.