USDC in the spotlight: latest news

CoinWorld has reported that the USDC Treasury has minted an additional 90 million USDC, valued at approximately $90.04 million, according to a tweet from Whale.

The UAE has officially launched its first central bank-approved stablecoin, USDU, marking its entry into the stablecoin market and posing a challenge to USDC within the region.

MEXC has introduced a month-long promotion that reduces borrowing rates for USDT and USDC from 3.5% to 0%. This offer allows verified users to leverage their holdings against cryptocurrencies such as BTC, ETH, SOL, and XRP.

Mizuho has revised its rating for Circle Internet Group (NYSE:CRCL) from Underperform to Neutral, establishing a price target of $77.00, due to the company's growth in USDC.

OKX has launched USDC spending across the European Union through its Mastercard, backed by its Markets in Crypto-Assets Regulation license. Monavate supplies the electronic money institution infrastructure necessary for the card services.

Fidelity Investments is set to introduce the Fidelity Digital Dollar (FIDD) stablecoin in early February, aiming to compete in the $308 billion stablecoin market, which is currently led by Circle's USDC and Tether's USDT.

Mizuho Securities has set a strategic price target of $77 for Circle's USDC, indicating a strong growth potential for the stablecoin.

Circle is expanding its USDC payments network to Europe and India, aiming to centralize cross-border USDC transactions. This expansion will enhance the speed, simplicity, and digital nature of financial transactions.

Circle's shares increased by 4% following an analyst upgrade, driven by the growth of USDC influenced by Polymarket.

WisdomTree, a global fintech asset manager and ETF/ETP sponsor, has introduced a comprehensive range of tokenized fund products on the Solana blockchain, which includes support for USDC and PYUSD.

Shares of Circle increased by 4% following Mizuho's upgrade of the stock to neutral. The upgrade was prompted by the rising usage of USDC on the prediction platform Polymarket, which is seen as a new growth catalyst.

Mizuho's analysts have upgraded Circle shares to a "neutral" rating and increased the price target to $77, citing Polymarket's use of USDC for settlement as a significant factor.

Bitwise has launched a non-custodial DeFi vault aimed at asset managers transitioning to on-chain solutions. The initial strategy centers on lending the USDC stablecoin through overcollateralized pools.

Bitwise Asset Management has introduced its inaugural on-chain vault strategy using the DeFi lending protocol Morpho, aiming for an annual yield of up to 6% on the USDC stablecoin.

Liquity, a protocol focused on developing decentralized stablecoins on Ethereum, has achieved a high bluechip rating, surpassing established stablecoins like $USDC and $DAI.

Kraken Exchange has introduced trading pairs for VET with USDT and USDC, expanding opportunities for VeChain trading.

Circle's StableFX enables institutions to trade stablecoin pairs, such as USDC/EURC, through a Request-for-Quote (RFQ) execution method that connects them with various liquidity providers.

Bitwise aims to achieve a 6% return on USDC by utilizing its Morpho Vault strategy. This strategy involves investing capital in over-collateralized lending markets, with Bitwise responsible for strategy design and continuous risk management of user funds.

Circle has launched a privacy-oriented version of its USDC stablecoin on the Aleo blockchain. This move underscores a wider trend among privacy-focused blockchains seeking to integrate stablecoin solutions.

On January 27th, on-chain data indicated that USDC issuer USDC Treasury burned a total of 150 million USDC on the Ethereum network.

Metroblox has launched Ride USD, a stablecoin backed by USDC, specifically for transportation payments. The company describes this new offering as a cost-effective solution for users.

Analysts suggest that Tether's USAT stablecoin could pose a significant challenge to Circle's USDC, which has previously faced no credible domestic competition.

A Bitcoin whale has successfully executed a critical $20 million rescue to avoid liquidation, despite facing a significant loss of $83 million. This move highlights the extreme volatility in the cryptocurrency market.

The newly implemented GENIUS Act mandates that payment stablecoins, such as USDC, must be fully backed by cash or short-term Treasuries. Additionally, it imposes restrictions that may lead to capital being moved offshore.

A new address associated with the "BTC OG Insider Whale" has withdrawn 11,000 ETH from an exchange and subsequently deposited it into Aave to borrow 30 million USDC, according to Onchain Lens monitoring reported by BlockBeats News on January 26.