#usd coin

On October 21, 2024, the Avalanche L1 blockchain team announced the launch of their crypto card in collaboration with Visa. This card allows users to pay for virtually any goods and services using cryptocurrencies like WAVAX (Wrapped AVAX), USDC (USD Coin), sAVAX (Staked AVAX), and several others.

Facing increased competition from conventional financial giants like PayPal Holdings Inc., Circle is taking strategic measures. To counter this threat and counterbalance the diminishing market share of its USD Coin stablecoin, Circle is expecting leveraging a substantial cash reserve surpassing $1 billion. The circulating supply of Circle’s USD Coin has experienced a decline, shrinking from $45 billion to around $26 billion since the start of this year.