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USDC was the first of 45 e-money tokens notified under MiCA to receive the designation. The EBA’s specified financial oversight begins Nov. 12.
Tether (USDT) dominates the saving use case in emerging markets, but Circle’s (CRCL) stablecoin USDC has an early lead in developed-market transactions, said Standard Chartered in a note on Wednesday.
Circle Internet stock has remained under pressure in the past few months as the company faces substantial headwinds. It ended last week at $82.22, down by 42% from its highest level this year. This weakness has coincided with the falling US bond yields, USDC supply, and the fading Arc momentum.Circ…