According to BlockBeats, Circle Internet Financial Ltd.'s stablecoin, USDC, could be the biggest beneficiary of the new European digital asset management guidelines set to take effect in July. This information was shared by Kaiko Research, a cryptocurrency analysis company.
Kaiko analyst Anastasia Melachrinos stated in a Tuesday phone conference that she anticipates USDC will take 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 token price volatility.
The new European guidelines could potentially provide a significant boost to USDC, positioning it as a preferred choice for traders and investors in the digital asset market. However, the exact impact of these guidelines on the stablecoin market will only become clear once they are implemented in July.