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Circle Explains Super Powers of USDC at World Economic Forum

-Circle attended the World Economic Forum (WEF) to explain why USDC is a dollar with “super powers”
-The event hosted over 1,500 industry leaders as well as government representatives from around the globe
-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

At the World Economic Forum (WEF) held between Jan. 16 and Jan. 20, 2023 in Davos, Switzerland, USD Coin (USDC) founder Circle spoke to over a dozen leaders to “reset the crypto narrative with an emphasis on inclusive growth.” The event hosted over 1,500 industry leaders as well as government representatives from around the globe.

Circle emphasized its vision that the “future of money should include everyone” and also explained why USDC is a dollar with “super powers.” The company utilized the WEF platform to explain the evolution of money and the regulatory approaches to crypto that promotes responsible innovation.

The company also revealed the growth of USDC, according to its “State of the USDC Economy” report published on Jan. 17. The report showed that USDC had grown from zero to $45 billion in four years and was the native currency of eight blockchains, supported by wallets from 190 different countries, and had 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 other stablecoins such as Tether (USDT), DAI and Paxos Standard (PAX). The report revealed that USDC had surpassed PAX, with a market capitalization of $13 billion, the highest market cap ever achieved by a USDC-based asset.

At the WEF, Circle also spoke about its recent initiatives, such as its support for the Open Payments Coalition, its alliance with Visa, and its partnership with the International Monetary Fund (IMF). Circle also discussed its contribution to global financial inclusion, its plans to improve access to financial services for the unbanked, its work with central banks on CBDCs, and its commitment to sustainability.

Circle’s presence at the WEF was crucial for the company, as it allowed the company to explain its vision and mission to the global leaders present. The company is hoping to continue to grow USDC and expand its services in the future.