The Circle stablecoin network
Global interest in USDC is rising from the ground up as more businesses and individuals recognize that stablecoins and blockchain networks can solve persistent, longstanding problems in global payments. These problems stem largely from the fact that most commercial flows today travel on payment rails that debuted decades ago. SWIFT and ACH — just two of the many rails that make up today’s fragmented global payments landscape — were established in 1977 and 1972 respectively. More recent developments — like SEPA in the eurozone, and national real-time payment systems in several major markets — lack global interoperability and scale.
These shortcomings impose high transaction costs, delays, and other obstacles while cementing accessibility problems for people who lack access to the global banking system. Taken together, these frictions enact a significant tax on global commerce.
A new global standard for money movement that is connected, secure, and accessible to all can alleviate these pain points and unlock immense opportunities. This vision is becoming reality in the form of the Circle stablecoin network.
A new global standard for money movement that is connected, secure, and accessible to all can alleviate these pain points and unlock immense opportunities.”
Working together with leading global banks, payment service providers, and other institutions, Circle’s stablecoin network connects participants in a comprehensive, internet-based settlement system with the world’s largest regulated stablecoin at its core. USDC bridges the gap between the proven innovation of blockchain networks with the strength of the global banking system. Since its launch in 2018, Circle has bridged more than $850 billion back-and-forth between fiat and supported blockchains. This stablecoin network enables banks, payment providers, businesses, and consumers to leverage USDC for real-time global settlement, with miniscule transaction costs and global accessibility.
In the half century since the appearance of SWIFT and ACH, global communications have undergone a radical transformation that has connected people instantly, across the world. Billions of people can stream Hollywood movies on handheld mobile phones while riding the subway, access the sum of human knowledge instantly at virtually no cost, and buy or sell nearly any product from every corner of the world. We are building the Circle stablecoin network to deliver this same software upgrade to global finance. As this report lays out, this transition is well underway and we expect accelerating progress throughout 2025 and beyond.
2025 State of the USDC Economy report
