USD Coin (USDC) founder Circle attended the World Economic Forum (WEF) to explain “why USDC is a dollar with super powers.”
The WEF took place between Jan. 16 and Jan. 20, 2023, in Davos and hosted over 1,500 industry leaders as well as government representatives from around the globe.
According to Circle’s announcement, the event had primary importance for the company. Circle stated that they utilized the WEF platform to:
“…reset the crypto narrative with an emphasis on inclusive growth, sustainability and use cases rooted in the utility value of USDC and blockchain technology. “
Circle hosted over a dozen conversations with the participants of the WEF, where it summarized the evolution of money and the regulatory approaches to crypto that promotes responsible innovation.
Circle said it also emphasized its vision that the “future of money should include everyone.”
According to Circle’s “State of the USDC Economy” report published on Jan. 17, USDC in circulation grew from zero to $45 billion in four years. It is the native currency of eight blockchains, supported by wallets from 190 different countries, and has over 200 integrated protocols.
Almost a year ago, in February 2022, USDC started to grow its share in the stablecoin market and started to challenge Tether’s (USDT) dominance. USDC continued to grow its presence amongst stablecoins despite the bear market, According to CryptoSlate research from Jan. 10, 2023. Based on the data from Jan. 10, USDC currently holds more transfer volume, while USDT remains to be the largest stablecoin in the market.