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Tether’s USDT, worth over $155 billion, has commanded a near-monopoly over the stablecoin market for nearly a decade. Earning $13 billion in profit last year, the most transaction volume of any crypto asset — including BTC itself — and benefiting from its asset manager joining the presidential cabinet of Donald Trump, many people doubted any stablecoin could ever compete. However, for the first time in history, the world’s largest stablecoin issuer is reckoning with serious competition in the form of Circle. Circle has advanced its USDC remarkably this year, and Protos has compiled data on three metrics by which it has gained ground against Tether. For the first time in history, the world’s largest stablecoin issuer is reckoning with serious competition. Although Tether remains the market leader and retains a dominant share of tokens outstanding, search queries, and trading volume, Circle’s growth rates highlight some areas in which it is gaining ground....

Stablecoin issuer Circle will finalize pricing for its IPO shares one hour after the 4pm close of regular trading on the New York Stock Exchange (NYSE) today. That price will provide a formal benchmark with which to value the world’s largest stablecoin issuer, Tether. Already boosted 10% due to investor interest over the weekend and reportedly 25 times oversubscribed as of this morning, shares of Circle will trade under ticker symbol CRCL. Based on early morning estimates, shares will price at least $27-28 apiece at a valuation in excess of $7.2 billion. That estimated range could increase substantially at today’s 5pm pricing. Early access to the IPO is skewing toward Main Street investors, with retail-focused brokerages Robinhood and Webull offering IPO Access. IPO Access allows traders to request shares of a new public company at the IPO price before it lists to the general public on the NYSE. IPO Access allocates brokerages’ limited number of IPO shares base...

In what could be a major shake-up of the industry, Ripple has reportedly offered to buy Circle, the issuer of the USDC stablecoin. Indeed, the company proposed a complete takeover of the company for an offer of around $5 billion, according to a Bloomberg report. The offer was rejected for being too low, according to sources. Moreover, the report notes that the XRP issuer is still considering another offer to acquire the stablecoin firm. In late 2024, Ripple launched its RLUSD stablecoin, creating direct competition with the USDC issuer. JUST IN: Ripple offers to acquire Circle $USDC stablecoin issuer, Bloomberg reports. — Watcher.Guru (@WatcherGuru) April 30, 2025 Also Read: USDC Issuer Circle Approved As Money Service Provider in Abu Dhabi Ripple Proposes $5 Billion Bid to Buy Circle as Stablecoin Issuer Eyes IPO The ongoing growth of the stablecoin industry has been undeniable. Indeed, the total market capitalization of the asset class has officially surpassed the $241 billion mark. ...

Circle wants to IPO, and its S1 filing details the staggering difference between the regulated, US-based stablecoin issuer and its offshore competitor, Tether. Despite their relatively similar sizes, the financials of the world’s two largest stablecoin issuers are miles apart. As of December 31, 2024, there were 137.4 billion circulating USDT and 43.9 billion circulating USDC. Despite USDC’s market capitalization being approximately one-third of USDT, their profitability diverges massively. Specifically, Tether reported a gross profit of  $13 billion that year , while Circle reported just $156 million in net income.  Specifically, Tether reported a gross profit of $13 billion that year, while Circle reported just $156 million in net income. In percentage terms, the market capitalization of USDT was just 213% bigger than USDC, yet its profit was roughly 8,000% bigger . It certainly begs the question of how Tether achieved its extraordinary gains. How come @circle h...

Circle Unveils New CCTP Protocol According to the company’s official statement, the new protocol, unlike a conventional bridge system, does not lock tokens sent to its smart contract. In contrast, it enables the transfer of USDC between different blockchain networks by minting the same amount on one chain while burning native USDC on another and thereby enabling asset transfers. advertisement Additionally, the protocol can be integrated into a crypto wallet, bridge, or app, allowing users to transfer any quantity of USDC to an ecosystem that supports it. The official statement released by the firm was quoted as saying: A user accesses your app to initiate a transfer of USDC from one blockchain to another, and specifies the recipient wallet address on the destination chain. Read More: Bahamas Calls for Tougher Regulation to Curb FTX-Like Situations Trending Stories XRP Price Prediction: XRP Price Coiling Up Before ...