Circle has announced its intention of going public via a special purpose acquisition corporation (SPAC). The company has been forming new partnerships to expand the reach of its key product, stablecoin USD Coin (USDC). Thus, the firm seeks to increase their levels of transparency, the reserves that back USDC, and the business created around this Ethereum based stablecoin. This stablecoin has been displacing its competitor Tether (USDT) and could be even more relevant in the DeFi sector. Around $12.5 billion or 50% of USDC’s total supply has been locked into a smart contract. Thus, USDC might now be the preferred stablecoin in DeFi.

#USDC #Tether #USDT
~USD Coin Could Surpass Tether | USDC vs USDT Stablecoins~
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