USD Coin (USDC)

USD Coin, or USDC, is a dollar-pegged stablecoin issued by Circle and widely used for onchain payments, trading and DeFi. Circle has recently received approval to establish a U.S. national trust bank, partnered with JCB on payments in Japan and expanded into South Korea. OKX Europe is also offering a service to convert USDT into compliant USDC. However, new assets such as Open USD and the rise of the Hyperliquid ecosystem are intensifying competition. USDC's regulatory progress, adoption in cross-border payments and shifting market position remain important to watch.