USDC has surpassed Tether in transfer volume, achieving a record of $1.8 trillion in stablecoin transfers during February. This rise may be attributed to USDC’s increasing acceptance in real-world payments, as indicated by Visa data, and the overall acceleration in stablecoin usage driven by improved infrastructure for global payments and on-chain settlement. Additionally, supportive regulatory developments, such as recent proposals from the OCC and state frameworks like Florida’s, have bolstered confidence in compliant stablecoins.
Tether: Tether (USDT) is a widely adopted stablecoin issued by Tether Holdings Limited, designed to mirror the US dollar value and support liquidity across multiple blockchains for trading and remittances. It maintains its peg through a diversified reserve composition amid ongoing transparency efforts. Recently, USDT was surpassed by USDC in monthly transfer volume as stablecoin transactions reached new peaks.4248
USD Coin: USD Coin (USDC) is a regulated stablecoin issued by Circle, pegged one-to-one to the US dollar and backed by transparent reserves in cash and short-term US Treasuries. It enables efficient cross-chain transfers, payments, and DeFi applications with a focus on compliance. In February, USDC overtook Tether in transfer volume, leading stablecoin activity during a period of heightened on-chain usage.4243
`json
{
“Payment Shift”: “USDC is gaining ground in real-world payments and transaction share according to Visa data.”,
“Market Momentum”: “Stablecoin usage is accelerating as infrastructure for global payments and on-chain settlement.”
}
`
Source: TFTC21
