EddieJayonCrypto
10 Mar 25
Binance is experiencing a surge in the dominance of USDC in its stablecoin distribution, with USDC's presence increasing from 0.48% to 8.26% in the past year. This growth is attributed to regulatory pressures, including the EU's MiCA framework. As a result, questions arise about the stablecoin that ...
Binance is experiencing a surge in the dominance of USDC in its stablecoin distribution, with USDC's presence increasing from 0.48% to 8.26% in the past year. This growth is attributed to regulatory pressures, including the EU's MiCA framework. As a result, questions arise about the stablecoin that will dominate Binance's global platform. MiCA's impact has also led to the delisting of non-compliant stablecoins like Tether's USDT for EU users on prominent crypto platforms. Tether is focusing on its tokenization platform, Hadron, and its investment in the Dutch firm Quantoz as part of its European strategy. Earlier this week, Japan officially welcomed USDC as the first and only global dollar stablecoin approved for use after SBI VC Trade received approval from the Japan Financial Services Agency (JFSA) as an Electronic Payments Provider under Japan's new regulatory framework. This makes SBI VC Trade the first platform in Japan to list and distribute USDC. MiCA became effective in December 2024, bringing uniform digital asset regulations to the European market. Following its implementation, prominent crypto platforms such as Coinbase and Crypto.com have announced the removal of non-compliant stablecoins like Tether's USDT for EU users. Tether had earlier criticized the speed of this transition and warned that such haste could create market disruptions. The company also stressed that the regulatory impact extends beyond USDT, affecting several stablecoins and adding complexity to the situation. Hadron enables the creation of digital assets such as stablecoins, bonds, stocks, and loyalty programs. Quantoz, backed by Tether since 2024, has introduced EURQ and USDQ, two stablecoins that align with MiCA's regulatory framework.