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Title: Tether and Circle Generate $664 Million in December Revenue, Commanding Stablecoin Market
In a recent report, it has been revealed that both Tether Limited, the issuer of the widely used USDT (Tether) stablecoin, and Circle Internet Financial Ltd, the developer of USD Coin (USDC), have generated a staggering $664 million in revenue for the month of December. This significant figure demonstrates the immense demand for stablecoins, specifically those backed by fiat currencies like the US dollar.
For context, Tether Limited, a company that introduced its asset-backed cryptocurrency stablecoin in 2014, has seen tremendous growth and adoption throughout the years. With over $80 billion in market capitalization, it remains one of the most widely used cryptocurrencies in terms of trading volume and user adoption.
On the other hand, Circle Internet Financial Ltd is another significant player in the space, responsible for the development and management of USD Coin (USDC). This US dollar-pegged stablecoin has also gained popularity among institutional investors and individual traders alike.
Source: cryptoslate.com
