Coinbase recently celebrated the one-year anniversary release of its own stablecoin called USDC. It is currently the second-largest stablecoin in the world with over $1B issued.
Stablecoins have exploded in trading volume this year. The largest stablecoin Tether (USDT) consistently boasts a higher trading volume than Bitcoin. BTC is still king in the cryptocurrency market, but it is slowly losing its dominance among trading pairs thanks to stablecoin competition.
One competitor to Tether, however, is making inroads and recently hit a milestone. Coinbase’s own USDC recently hit its $1B in issuance and is currently the world’s second-largest stablecoin. The dollar-backed token was created by both Coinbase and Circle, one of the largest blockchain startups in the U.S. The stablecoin is, as of today, one year old.