Is USDC the New Tether? Binance’s Stablecoin Shake-Up Will Shock You! 😱

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Oh, Binance. Just when you think you’ve seen it all, USDC comes along and steals the show. Remember when USDC was that shy little stablecoin, barely making a dent in Binance’s stablecoin party? A year ago, it was barely a blip at 0.48% of Binance’s stablecoin distribution. Meanwhile, Tether (USDT) strutted around with a massive 68.67% share, like the Beyoncé of stablecoins, while FDUSD hung out in the corner with 30.84%.

Fast forward to today, and USDC has gone from “who even is that?” to “hello, I’m here, and I’m growing” at a jaw-dropping 8.26% of Binance’s stablecoin scene. That’s a 1,621% rise! Someone get CryptoQuant a medal. 🏅

USDC’s Meteoric Rise 🚀

So what’s causing this sudden glow-up for USDC? Blame it on the European Union’s shiny new MiCA rules. The regulatory wave has been a game changer. And to make things even spicier, Binance’s decision to ditch USDT for EU users by March 31st is basically rolling out the red carpet for USDC. Talk about a VIP entrance. 🏆

“As MiCA continues to stir things up in Europe, USDC seems to be positioning itself to dethrone Tether’s reign of stablecoin dominance.” 💥

And guess what? Japan’s not sitting idly by either. They’ve just officially approved USDC as the first global dollar stablecoin. Japan is now the first country to let USDC strut its stuff, thanks to SBI VC Trade getting the green light from the Japan Financial Services Agency (JFSA). And yes, that’s the same Japan that was so picky about stablecoins before. Talk about a cultural shift! 🇯🇵

Tether’s Drama: The Struggle is Real 😬

Meanwhile, Tether is in full-on “What do you mean we can’t keep doing business as usual?” mode. MiCA, which took effect in December 2024, is now making European crypto platforms like Coinbase and Crypto.com remove USDT from their listings for EU users. Yikes! Tether, naturally, isn’t thrilled about this whole “rush” to comply. They’re acting like someone just took their favorite coffee shop out of business. ☕

In true Tether fashion, they’re doubling down on their tokenization platform, Hadron, and cozying up to Quantoz, a Dutch company that’s helping them try to stay relevant in Europe. USDT may be getting the boot, but Tether’s not going down without a fight, folks.

Hadron’s busy making new digital assets like stablecoins, bonds, stocks, and loyalty programs, while Quantoz is pushing out EURQ and USDQ stablecoins, perfectly tailored to comply with MiCA. Talk about playing the long game. 💼

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2025-03-10 00:13