Key Takeaways
- • USDC circulation reached $73.3 billion last quarter, up 19% year-on-year, while on-chain transaction volume surged 151% to $14.8 trillion, according to the article.
- • Circle plans to expand into around 40 additional markets across Asia, Latin America, Africa and the Middle East as stablecoin demand grows.
- • Visa has scaled stablecoin settlement across nine blockchains, with a settlement pilot reaching a $7 billion annualised run rate earlier in 2026.
- • Standard Chartered allows eligible institutional clients to mint and redeem USDC through its banking infrastructure, linking fiat banking with digital assets.
- • The article argues stablecoin growth affects crypto mainly through liquidity and network activity, not through direct price appreciation of the stablecoin itself, and does not guarantee higher Bitcoin or Ethereum prices.
Summary
Stablecoins are becoming a larger part of crypto market infrastructure, according to a Mitrade article published on October 20, 2026. The article reports that USDC, the dollar-backed stablecoin issued by US-listed Circle, reached $73.3 billion in circulation last quarter, up 19% from a year earlier. On-chain transaction volume rose 151% to $14.8 trillion over the same period. Circle is preparing to expand into roughly 40 additional markets as demand grows across Asia, Latin America, Africa and the Middle East.
The article describes a shift in how stablecoins are used. Visa has expanded stablecoin settlement across nine blockchains, and Circle reports more than 100 institutional and ecosystem participants building on its Arc blockchain infrastructure. Standard Chartered now lets institutional clients mint and redeem USDC through its banking infrastructure without a separate direct account with Circle.
The article frames the main trading implication as liquidity rather than price appreciation of the stablecoin, which is designed to hold near $1. Stablecoin balances can let investors reduce crypto exposure while remaining in the digital-asset ecosystem, and they can be redeployed into Bitcoin or Ethereum when conditions change. The article says Bitcoin would still respond primarily to interest rates, ETF flows and risk appetite. Ethereum is described as having a more direct link, since stablecoin transfers generate activity on the blockchains that process them, though the article notes this does not guarantee higher ETH prices.
The article cautions that adoption does not automatically lift crypto prices. Rising stablecoin circulation alongside weak Bitcoin and Ethereum prices could indicate capital held in digital cash rather than deployed into risk assets. Faster capital movement can also increase volatility, since stablecoins settle continuously, including outside traditional market hours. Indicators the article suggests monitoring include USDC circulation, transaction volume, further institutional integrations, and whether stablecoin activity coincides with stronger crypto trading volumes and price momentum.
The article describes a shift in how stablecoins are used. Visa has expanded stablecoin settlement across nine blockchains, and Circle reports more than 100 institutional and ecosystem participants building on its Arc blockchain infrastructure. Standard Chartered now lets institutional clients mint and redeem USDC through its banking infrastructure without a separate direct account with Circle.
The article frames the main trading implication as liquidity rather than price appreciation of the stablecoin, which is designed to hold near $1. Stablecoin balances can let investors reduce crypto exposure while remaining in the digital-asset ecosystem, and they can be redeployed into Bitcoin or Ethereum when conditions change. The article says Bitcoin would still respond primarily to interest rates, ETF flows and risk appetite. Ethereum is described as having a more direct link, since stablecoin transfers generate activity on the blockchains that process them, though the article notes this does not guarantee higher ETH prices.
The article cautions that adoption does not automatically lift crypto prices. Rising stablecoin circulation alongside weak Bitcoin and Ethereum prices could indicate capital held in digital cash rather than deployed into risk assets. Faster capital movement can also increase volatility, since stablecoins settle continuously, including outside traditional market hours. Indicators the article suggests monitoring include USDC circulation, transaction volume, further institutional integrations, and whether stablecoin activity coincides with stronger crypto trading volumes and price momentum.
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