Circle News

USDC transactions on BitPay accounted for almost double that of USDT in 2024, but the trend has shifted in favor of Tether this year.

AllUnity, a stablecoin joint venture by Deutsche Bank and DWS, has received a BaFin license in Germany to issue a MiCA-compliant euro stablecoin, EURAU.

Other crypto firms are also reportedly considering applying for a national bank charter, following in the footsteps of Anchorage Digital Bank, which received a license in 2021.

While seeing Circle as well-positioned in the market, JPMorgan analysts warned that competition is a potential threat to the stablecoin issuer.

Stablecoins are now the “default settlement layer for the internet,” surpassing Visa and Mastercard in onchain transaction volume.

The EU’s joint stablecoin issuance with third countries has risks, but they are manageable under the MiCA framework, the European Commission said.

Shares of the crypto exchange are being fueled higher by rising Bitcoin prices, pro-industry regulation and steady revenue growth.

Circle’s eighth-largest holder, ARK Invest, continued offloading CRCL shares on Monday amid the stock briefly topping at $299.

Shares of the stablecoin issuer account for roughly 13% of the MVDAPP, said VanEck’s Mathew Sigel.

Despite the massive sale, ARK remains the eighth largest Circle holder.

Crypto entrepreneur Anthony Pompliano says Coinbase’s stock surge indicates that “Wall Street wants Bitcoin and crypto assets.”

USDC, a US dollar-pegged stablecoin by Circle and Coinbase, is set to become a collateral for US futures trading as part of a joint effort by Coinbase Derivatives and Nodal Clear.

In the past two days, ARK has offloaded a total of 642,766 Circle shares, accounting for 14% of its 4.49 million CRCL purchase made during the company’s public launch.

Circle is one of the top ARK holdings across three funds with a weight of up to 6.7%.

The BitMEX founder warned that most new stablecoin issuers will be overvalued and likely fail due to locked distribution channels.