A look into the growth of USDC

2018 saw the launch of a handful of new fiat-backed stablecoin projects gunning for a piece of the market share long dominated by Bitfinex's controversial Tether.

Still, two years later, only one of these projects has seen noteworthy success: U.S. Dollar Coin or USDC. Initially announced by Circle in May 2018 and later supported by Coinbase via the CENTRE Consortium, USDC has grown to be a strong contender among the newly launched stablecoin projects.