Circle’s Regulated USDC Outpaces Tether’s USDT Growth for Second Consecutive Year
Circle’s USD Coin (USDC) has cemented its position as the fastest-growing stablecoin, recording a 73% surge in market capitalization to $75.12 billion in 2025. This marks the second straight year it has outperformed Tether’s USDT, which grew by 36% to $186.6 billion.
Regulatory clarity and institutional adoption are driving USDC’s ascent. Circle operates under U.S. and European frameworks, including MiCA and the GENIUS Act, with reserves held in cash and short-term Treasuries. Payment giants Visa and Mastercard, alongside asset manager BlackRock, now leverage USDC for settlements.
The growth gap between the stablecoins widened further in 2025, repeating 2024’s trend when USDC expanded 77% versus USDT’s 50%. Market analysts attribute this divergence to rising demand for transparent, compliant digital dollar instruments among corporations and financial institutions.
