Yeliz Akmaca 
USDC Achieves $219 Billion Volume in April
USD Coin (USDC) reached an all-time high in April 2025, with a transaction volume of $219 billion. The strategic partnership with Binance played a significant role in this achievement.
The Role of Binance Partnership
Binance’s collaboration with Circle made USDC the default currency for Binance Pay. This move increased USDC’s accessibility through Binance Pay, which has over 40 million monthly active users. Additionally, Binance’s preference for USDC in its corporate treasury bolstered the stablecoin’s credibility. According to Kaiko’s data, USDC’s transaction volume on Binance reached $24 billion in January 2025, accounting for 49% of the global volume. This propelled USDC’s market share to a historic peak.
🔍 In today’s first Premium edition of our Data Debrief, we cover:
👉USDC's growing market share on centralized exchanges—and what shifting stablecoin use cases mean for regulators
✅Coinbase’s dominance in U.S. markets ahead of its Q1 earnings call
📊Accelerating Bitcoin ETF… pic.twitter.com/ZujC3SLnsV
— Kaiko (@KaikoData) May 5, 2025
USDC Volume and Rise
USDC’s rise is reshaping the stablecoin market. While Tether maintains its lead with a $139 billion market cap, USDC’s $56 billion supply and growing adoption on networks like Solana are noteworthy. According to DeFiLlama, USDC’s supply on Solana rose to 17%, while Ethereum’s dominance dropped to 59%. Meanwhile, regulatory developments are supporting USDC’s growth. The anticipated U.S. stablecoin legislation in 2025 could favor regulated issuers like Circle.
USDC’s record volume opens new opportunities for digital payments and decentralized finance (DeFi). Binance’s integration of USDC into its products and services could boost the stablecoin’s use in global trade. Furthermore, Circle’s planned IPO in 2025 could solidify USDC’s position in the financial ecosystem. These developments are bringing the stablecoin market closer to its 2022 peak of $187 billion.
Europe’s MiCA regulation provides regulatory clarity while creating strategic challenges for stablecoins. MiCA compliance will be mandatory in the EU; USDC offers stronger regulatory positioning and transparency compared to USDT. USDC’s success in April 2025 underscores the strategic importance of the Binance partnership.
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