Kaiko: USDC will benefit from the EUs new digital asset regulations and seize USDTs market share
Odaily2024/06/19 02:06
By:Odaily
Odaily News Circle Internet Financial Ltd.’s USDC could be the biggest beneficiary under new European digital asset guidelines set to take effect in July, according to Kaiko Research, a crypto analytics firm. USDC is expected to take
market share from larger rival
Tether Holdings Ltd.’s USDT, Anastasia Melachrinos, a Paris-based analyst at Kaiko, said on a conference call Tuesday. OKX already took steps to change its trading support for USDT in the European Union earlier this year, removing the ability to buy or sell other crypto assets with the stablecoin. European users can still deposit and withdraw, trade over-the-counter and convert it to euros; Kraken said last month it was “actively reviewing” plans that could include removing support for USDT on its EU exchange under the upcoming EU guidelines, MiCA. “Kraken and OKX will delist all EURO/USDT pairs,” Melachrinos said.
USDT/EURO pairs on Kraken average about $4.3 billion in daily trading volume, Kaiko data showed, surpassing the volume of all other crypto/EURO pairs. Average daily trading volume for USDC/EURO on Kraken is around $400 million. European regulators have been finalizing technical guidance for MiCA, which is expected to be fully implemented in early 2025. (Bloomberg)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
[Initial Listing] Bitget Will List PrompTale AI (TALE). Come and grab a share of 3,480,000 TALE
Bitget Announcement•2025/07/11 07:30
New spot margin trading pair — LA/USDT!
Bitget Announcement•2025/07/10 14:24
AINUSDT now launched for futures trading and trading bots
Bitget Announcement•2025/07/10 13:00
Bitget releases June 2025 Protection Fund Valuation Report
Bitget Announcement•2025/07/10 10:00
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$117,762.28
-0.08%

Ethereum
ETH
$2,954.47
-0.46%

XRP
XRP
$2.77
-1.59%

Tether USDt
USDT
$1
-0.00%

BNB
BNB
$687.55
-0.99%

Solana
SOL
$161.07
-1.53%

USDC
USDC
$1
+0.01%

Dogecoin
DOGE
$0.1982
-3.30%

TRON
TRX
$0.3025
-1.09%

Cardano
ADA
$0.7179
-2.11%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now