USDC

Circle, the issuer of the USD Coin (USDC), has been actively addressing concerns over its liquidity. The company&#39;s CEO, Jeremy Allaire, recently revealed that over the past month, Circle has issued $5 billion USDC and redeemed $6.6 billion USDC. This announcement came amidst concerns over the liquidity of USDC, with redemptions outpacing issuance.Allaire addressed concerns over USDC liquidity, stating that redemptions have been outpacing issuance:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0d0675023e8944299854dbd09edc5474.png" />In addition to addressing liquidity concerns, Allaire also shed light on the <a href="https://cryptotale.org/usdc-issuer-circle-considers-issuing-a-stablecoin-in-japan/" rel="noopener noreferrer nofollow">company&#39;s efforts to expand</a> its global banking and liquidity network. He confirmed that Circle is collaborating with exceptional and high-quality banks in major regions worldwide to enhance local settlement rails and globally distributed mint/burn for USDC.Allaire&#39;s comments on liquidity and global expansion were not the only significant revelations. He also shared that a significant portion of USDC adoption is coming from outside the United States. According to Allaire, approximately <a href="https://twitter.com/jerallaire/status/1688672056898928640?s&#61;20" rel="noopener noreferrer nofollow">70% of USDC adoption</a> is from non-US countries, with emerging and developing markets showing the fastest growth. This international expansion has been particularly strong in Asia, Latin America, and Africa.This shift in USDC adoption demographics comes amidst a decline in USDC supply since the beginning of 2023 due to a decrease in demand and an increase in redemptions. As a result, USDC&#39;s stablecoin market share has reduced to just 21%, with a total circulation of $26.1 billion.Read full article at<a href="https://cryptotale.org/circle-addresses-usdc-liquidity-concerns-amid-global-expansion/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Circle Addresses USDC Liquidity Concerns Amid Global Expansion

CryptoTale

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