Circle’s USDC is leaving Tether behind in the stablecoin volume race, new data from Visa shows
Visa data indicates that Circle's USDC has overtaken Tether in adjusted transaction volume, capturing 70% of the market in the first half of 2026. This shift reflects a growing preference among financial institutions for regulated stablecoin networks over traditional alternatives.
Why it matters
The transition toward USDC suggests that institutional adoption of stablecoins is favoring transparency and regulatory compliance, potentially reshaping the landscape of digital asset payments.
In June alone, stablecoin activity increased to a record $1.79 trillion in adjusted transaction volume, up 63% from May's $1.1 trillion and 125% from about $795 billion in June 2025. Visa removes bot activity, exchange transfers and other blockchain transactions that do not reflect real economic activity before calculating adjusted volume.
The article relies on objective data provided by Visa to report on market share shifts without injecting editorial opinion.
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