<p>The supply for the USDC stablecoin has jumped significantly since the start of the month.</p> <p>The market capitalization for the dollar-backed stablecoin has climbed by approximately $200 million since March 1, now surpassing the $600 million benchmark. This figure represents a 42% increase, based on data collected by The Block. </p> <p>According to a Wednesday <a href="https://blog.coinbase.com/usdc-surpasses-600-million-in-market-capitalization-and-makerdao-adopts-usdc-as-collateral-e6ea4af32ca5">blog post</a> by cryptocurrency exchange Coinbase, "more and more consumers and institutions turn to USDC as a trusted means to weather the turbulence."</p> <p>Earlier this week, MakerDAO's governance community <a href="https://blog.makerdao.com/usdc-approved-by-maker-governance-as-the-third-collateral-type-of-the-maker-protocol/">approved</a> USDC as a new collateral asset in its protocol as its third collateral type after ETH and BAT. </p> <p>USDC is primarily issued by Coinbase and Circle, though the firms <a href="https://www.theblockcrypto.com/post/27061/coinbase-and-circle-will-no-longer-be-the-only-platforms-to-issue-and-redeem-usdc-in-new-bid-to-boost-stablecoin-adoption-among-institutions" target="_blank" rel="noopener noreferrer">said last year</a> that they aim to expand the pool of issuers and redeemers, as reported by The Block.</p> <p>&nbsp;</p> <p><img class="alignnone size-medium wp-image-59260" src="https://www.tbstat.com/wp/uploads/2020/03/USDC-800x366.png" alt="" width="800" height="366" /></p>