Cryptocurrencies
Circle’s Stablecoin to Benefit From EU Rule Shift, Analyst Says
- Upcoming MiCA regulations seen hampering USDT trading
- Kaiko sees Circle taking market share from Tether in Europe
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Circle Internet Financial Ltd.’s USDC stablecoin may be the biggest beneficiary under new European guidelines governing digital assets that are set to take effect in July, according to crypto analytics firm Kaiko Research.
USDC is expected to take market share from bigger rival Tether Holdings Ltd.’s USDT, Anastasia Melachrinos, a Paris-based analyst at Kaiko, said during a conference call Tuesday. Stablecoins are mostly used by traders to move digital assets between exchanges, or as a means of storing wealth away from token price volatility.