Stablecoins post triple-digit growth in 2020, but institutional rivals loom

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The supply of the Coinbase-backed stablecoin USD Coin (USDC) has grown by 250% since the start of 2020, including an 80% expansion in just the past two months.

After starting the year with a nearly $520 million market cap, USDC now ranks as the 16th-largest crypto asset with a $1.86 billion capitalization — beating out all other major stablecoins except for the $14.5 billion Tether (USDT) by at least four times.

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