The Market Capitalization of USDC Has Reached $30 Bln. Circle and Plaid Will Make Transactions Easier

Stablecoin issuer Circle has partnered with financial data aggregator Plaid to make it easier for consumers to transfer money from a bank to USDC. The Plaid partnership is another way for Circle to integrate with networks that enable users to transfer fiat currencies to stablecoin faster.

According to a tweet from Circle CEO Jeremy ALLAIRE, the USDC's market cap reached $30 bln on Wednesday. USDC is the eighth largest cryptocurrency by market capitalization at the moment.

Plaid is connected to banks around the world and is also connected to several companies in the crypto ecosystem, from the largest cryptocurrency exchange in the US, Coinbase, to DeFi startups such as Dharma, the DeFi wallet that supports Uniswap. In practice, Circle Bank, New York's Signature Bank, will get account information for consumers looking to buy USDC faster when they shop through crypto apps connected to Plaid.

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