Circle’s USDC has long dominated the crypto stablecoin sector, especially among institutional investors, serving as a trusted dollar-pegged asset for investment, transactions, and financial services. However, Tether’s new stablecoin, USAT, has recently entered the scene, targeting large-scale institutional investors and creating significant competition for USDC. Known for its wide market presence, Tether is now directly challenging Circle’s USDC with USAT, signaling intensified rivalry in the institutional stablecoin space. This competition could lead to shifts in investor preferences, potentially reducing USDC’s market share and prompting the need for greater transparency and improved regulations to protect users and investors. Overall, the introduction of USAT is injecting new momentum into the crypto stablecoin market, likely influencing future market dynamics and compelling crypto firms to reassess their strategies.
Source: coindesk
