USDC transaction volume tops $20 trillion

Improving blockchain infrastructure and clearer regulation made 2024 a positive year for USDC, specialists at the coin’s co-issuer, Circle, said in its annual report.

Compared with 2023, the asset’s turnover rose by 78%. The stablecoin’s cumulative transaction volume since launch has exceeded $20 trillion. In November 2024, the monthly figure reached a record $1 billion.

USDC has enabled the transfer of more than $850 billion from fiat into the blockchain ecosystem. As of January 2025, the asset is supported on 16 networks.

According to the report, the stablecoin is available to 500 million users in 180 countries. Thanks to a strategic partnership with the Binance exchange, the asset’s potential audience increased by another 250 million people.

Circle’s Cross-Chain Transfer Protocol (CCTP) processed more than $20 billion in USDC transactions between supported networks.

Circle became the first stablecoin issuer to meet the requirements of Europe’s MiCA regime and Canada’s listing rules.

In October 2024, EURC — the euro analogue of USDC — became the largest stablecoin of its kind by circulating supply. Its weekly transaction volume exceeded $1 billion.

The company also stressed that USDC is used by several leading financial firms worldwide, including Mastercard, MoneyGram, Nubank, Standard Chartered and Stripe.

According to Tether data, as of the fourth quarter of 2024 the number of USDT holders stood at 109 million.