Posted 10/31/2023, 6:11:00 PM
Circle Restricts USDC Minting for Retail Users, Shifting Towards Tether's Model
- Circle limits stablecoin minting for retail users, moving closer to Tether's practice
- Circle phasing out support for legacy consumer accounts, notified users
- Retail users can still access USDC via exchanges and wallets
- Circle email notified account holders minting abilities will end Nov 30
- Move represents shift towards main competitor Tether's minimum minting threshold
- USDC is 2nd largest stablecoin but has lost significant market share in 2022