USDC carries 79 percent of all stablecoin transaction volume, Jeremy Allaire notes

USDC carries 79 percent of all stablecoin transaction volume, Jeremy Allaire notes
USDC records $208 billion Q3 activity

Circle's USDC accounted for 79% of all stablecoin transaction volume in Q3, up from 66% a year earlier, with $13.9 trillion moved onchain, representing a 49% increase. A record $208 billion worth of USDC was minted and redeemed during the quarter, averaging about $2.3 billion daily. Arc mainnet also went live, with participation from over 100 institutions and apps. Jeremy Allaire, who is identified as Co-Founder, Chief Executive Officer (CEO), and Chairman of Circle, shared these updates in a recent post.

Circle previously froze over $800 million USDC in connection with a reported Binance exploit, coordinating with law enforcement for investigation, according to a recent report. Earlier this year, Allaria SA began providing two-sided USDC/ARS liquidity in Argentina, a move Jeremy Allaire said could support local fintech and capital markets. These actions reflect Circle's ongoing involvement in both compliance and market expansion efforts.

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