Odaily Planet Daily News According to data from crypto analysis firm Kaiko Research, Circle Internet Financial Ltd.'s USDC may be the biggest beneficiary under the new European digital asset guidelines that will take effect in July. Anastasia Melachrinos, an analyst at Kaiko in Paris, said on a conference call on Tuesday that USDC is expected to take market share from USDT, a larger competitor under Tether Holdings Ltd. OKX has already taken steps to change its trading support for USDT in the European Union earlier this year, removing the ability to buy or sell other crypto assets using the stablecoin. European users can still deposit and withdraw funds, conduct over-the-counter transactions, and convert them into euros; Kraken said last month that it is "actively reviewing" plans, which may include removing support for USDT on its EU exchange in accordance with the upcoming EU guidelines MiCA. Melachrinos said: "Kraken and OKX will delist all EURO/USDT trading pairs." Kaiko data shows that the average daily trading volume of USDT/EURO trading pairs on Kraken is about US$4.3 billion, exceeding the trading volume of all other cryptocurrency/EURO trading pairs. Average daily trading volume for USDC/EURO on Kraken is around $400 million. European regulators have been finalizing technical guidance for MiCA, which is expected to be fully implemented in early 2025. (Bloomberg)