Circle Stablecoin CEO Unveils International Dominance: 70% of USDC Adoption Outside US

Aug 9, 2023

By Hassan Shittu | @hassan-shittu

In an August 8th tweet, Jeremy Allaire, the CEO of Circle, mentioned that approximately 70% of USD Coin (USDC) adoption originates from countries beyond the United States. 

Contrary to the perception of being centered in the US, he noted that much of the adoption of USDC comes from international regions: “We estimate that 70% of USDC adoption is non-US, and some of the fastest growing areas are emerging and developing markets.”

“Strong progress is happening across Asia, Latin America, and Africa,” and “Demand for safe, transparent digital dollars is strong,” he said.

Circle’s USDC is the second-largest stablecoin globally in market capitalization, trailing behind Tether (USDT), which boasts a market cap over three times its size. The rivalry between USDC and USDT for the top spot has persisted for years, and this competition intensified with PayPal’s recent launch of its stablecoin, PYUSD.

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