I’ve been learning about and sharing information Circle Internet as I learn about it. I ran into an issue though. There is a barrier to adaption on the consumer side. It is true that merchants would pay a lot less on their side bypassing visa/mastercard. However, a consumer has no vested interests in merchants paying lower payment processing fees. They would NOT be able to use their credit card to seamlessly place orders and have it convert on the backend to USDC without their knowing. They’re going to have to sign up for a USDC account, with no real incentive on their end to do so. Until they do, this will slow adaption. Having found this out, I am less enthusiastic about Circle.
However there is still adaption of USDC, given the growth in transaction volume. Just not merchant payment processing (such as online shopping).
According to recent reports, the fastest growing use case for USDC is institutional over-the-counter (OTC) trading and cross-border payments. A July 2025 report from Finery Markets highlights that stablecoins now dominate OTC crypto trading, accounting for 74.6% of all institutional spot deals in the first half of 2025—up from just 23% in 2023. USDC, in particular, was the “standout performer” with a 29-fold increase in turnover year-over-year, driven by regulatory clarity in regions like Europe and the delisting of competitors such as Tether’s USDT.
This surge is closely linked to the broader adoption of USDC for cross-border settlements, supplier payments, global payroll, and remittances, as businesses and financial institutions increasingly seek faster, cheaper, and more transparent alternatives to traditional banking rails. Reports also note that USDC’s expanding role as a bridge between traditional and digital finance—facilitating real-time, low-cost value exchange—has been a key driver of its rapid growth and mainstream adoption.