Kaiko: The stablecoin USDC issued by Circle will benefit from the adjustment of EU regulations

ChainCatcher news, according to Bloomberg, cryptocurrency analytics firm Kaiko Research stated that Circle Internet Financial Ltd.'s dollar stablecoin USDC could be the biggest beneficiary under the new European digital asset management guidelines set to take effect in July.

Kaiko analyst Anastasia Melachrinos mentioned in a conference call on Tuesday that USDC is expected to gain market share from its larger competitor Tether Holdings Ltd.'s USDT. Stablecoins are primarily used by traders to transfer digital assets between exchanges or as a means to store wealth away from the volatility of token prices.