USDC’s Market Challenge: Circle’s Plan To Revitalize Its Stablecoin As Competition Rises

Circle, the issuer of the stablecoin USDC USDC/USD, has introduced the Circle Alliance Program. This initiative aims to unite businesses, institutions, and protocols across various sectors such as fintech, traditional finance, consumer applications, payments, banking, and Web3.

As detailed in their blog post, to join the Alliance, participants are required to utilize Circle’s stablecoin and Web3 services on a global scale.

USDC’s market cap in the past month has seen a drop of 5% reflecting the increasing competition in the rapidly growing stablecoin market. This comes on the heels of Circle considering an IPO, valued at $9 billion, as early as 2024 after it failed a SPAC merger in…

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