ChainCatcher reported that according to Bloomberg, Kaiko Research, a cryptocurrency analysis company, said that Circle Internet Financial Ltd.'s USD stablecoin USDC may be the biggest beneficiary under the new European digital asset management guidelines that will take effect in July.

Kaiko analyst Anastasia Melachrinos said in a conference call on Tuesday that USDC is expected to take market share from larger competitor Tether Holdings Ltd.'s USDT. Stablecoins are mainly used by traders to transfer digital assets between exchanges or as a means of storing wealth away from token price fluctuations.