New milestone for Bitvavo: USDC, the only MiCA-approved stablecoin, now available

One of Europe’s largest crypto exchanges, Bitvavo, has announced the launch of the USDC stablecoin. USDC is the first stablecoin to fully comply with the Markets in Crypto Assets (MiCA) legislation, which is an important milestone for the European crypto market.

USDC is issued by the American fintech company Circle and distinguishes itself from competitors such as Tether’s USDT with a strong focus on reliability and transparency. While Tether’s balance sheet remains a secret from the public, USDC is fully backed by the US dollar. This means that for every USDC issued, a corresponding dollar is held in reserves.

With the addition of USDC, Bitvavo offers European investors a safe and regulated option for conducting transactions. The token is now available on the exchange, allowing users to easily transact with the digital currency.

Bitvavo introduces several USDC trading pairs

Initially, Bitvavo will offer ten USDC trading pairs with popular cryptos such as Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA). These pairs are currently available via Pro Mode on the web interface. Bitvavo is working to make the USDC pairs accessible via the mobile app soon. More USDC trading pairs are expected to be added in the near future.

USDC vs USDT: The battle for the stablecoin market

USDT has dominated the stablecoin market for years, but USDC is quickly gaining popularity. The stablecoin is increasingly overtaking its competitor in terms of transaction volume. In fact, in March, USDC reached an impressive weekly trading volume of $455 billion, almost five times that of USDT. This shift is mainly due to increasing institutional adoption, with investors preferring USDC for its transparency and MiCA compliance.

With the addition of USDC to the platform, Bitvavo is taking an important step in offering reliable and compliant crypto options to its users.