Citing Coindesk, JPMorgan reported that Circle's USDC has overtaken Tether's USDT in onchain activity as investors and institutions shift toward stablecoins that meet emerging regulatory standards. The bank noted USDC's market capitalization surged 72% this year to $74 billion, outpacing USDT's 32% rise. The shift is attributed to regulatory clarity, particularly Europe’s MiCA framework, which took effect in mid-2024. USDC's compliance, transparent reserves, and regular audits have strengthened its appeal among institutional users, while USDT's lack of MiCA authorization led to its removal from several European exchanges.
Circle's USDC Surpasses USDT in Onchain Activity as Regulation Drives Shift: JPMorgan
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