USDC Hits New ATH: $56 Billion and Growing
TL;DR: The past year has been monumental for USDC, solidifying its position as one of the most trusted and widely used stablecoins around the world. With a staggering growth of over 100% YOY and $12 billion YTD, USDC has reached a new all-time high (ATH) supply of over $56 billion. Here’s what’s driving USDC adoption and how Coinbase is supporting it.
In the past year, USDC has seen a remarkable surge in adoption, driven by increasing demand from institutions, merchants, and retail users. USDC supply now exceeds $56 billion, underscoring its role as a fundamental component of the onchain financial ecosystem. Whether for payments, remittances, trading, or decentralized finance (DeFi), USDC continues to be a go-to stablecoin for global transactions. As a founding partner, Coinbase has integrated and driven core utility for USDC – giving millions of users across the globe easy access to digital dollars.
A Smarter Way to Earn: Expanding Utility for USDC
Coinbase has made it easy for customers globally to earn market-leading rewards rates of up to 4.5% APY with USDC, giving retail and institutional users a reliable way to benefit from using USDC. Coinbase is also adding more utility for USDC by enabling customers to borrow USDC against their bitcoin to cover major expenses. USDC is available on 10+ networks including Arbitrum, Base, Optimism, Solana, and Sui – with Unichain and Aptos coming soon. Transfers from Coinbase are free for all of these chains, giving users easy access to more opportunities onchain.
Trusted Financial Instrument: USDC Powers Global Trading on Coinbase
USDC powers trading of 200+ USDC pairs on Coinbase, contributing to ~10x growth of USDC on Coinbase over the last two years. As the primary collateral and sole settlement asset used on Coinbase International Exchange, USDC is a critical component of global markets. With its stability, transparency, and efficiency, USDC provides a reliable foundation for seamless trading and settlements. Assets on Platform (AOP) for Coinbase International Exchange hit a new all-time high in January, driven by USDC balances, reflecting the increasing power of USDC as a trusted financial instrument for derivatives trading.
Taking Onchain payments Mainstream: USDC’s Role in Payments and Beyond
In 2024, stablecoin volume reached $30T cementing its role as one of crypto’s killer use cases. Last year, Coinbase partnered with Stripe to launch USDC payments to users in over 70 countries, with platforms like Remote.com adopting the solution for their own users. Additionally, we partnered with Yellow Card to help users in Africa access USDC and fast, reliable, and cheaper transactions in Coinbase Wallet.
USDC is setting the global standard for the future of money and Coinbase is moving it forward.
Disclaimers
Coinbase does not intend for the reward-bearing products described herein to constitute a securities offering, and purchasing these products is not the same as investing in a securities offering. Coinbase regularly assesses the rate and may make periodic changes. We always aim to offer you our best rate possible at any given time.
USDC is available natively on 10 blockchains: Ethereum, Base, Optimism, Solana, Arbitrum, Polygon, Avalanche, Algorand, Stellar, and Noble. Send any amount of USDC for zero fees on all supported networks except Ethereum.
