The US dollar coin is commonly known as USDC for short. It is well known as a stablecoin. This has recently come into focus as Circle Internet Financial, the issuer of this coin, has launched a suite of blockchain-based compliance products. As a result, it will satisfy the demands of customers as well as meet the stringent requirements for compliance of suppliers. It also helps build onchain at the same time and is designed with such initiatives in mind. This is an important step towards conquering the tokenized RWA market in recent times. Because many of us know it matters in the market and that's why the Circle stablecoin leader continues to fight Tether.
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[source](https://pixabay.com/photos/gold-coin-metal-money-gold-coin-1061726/)
The CEO of US Dollar Coin ( USDC ) said the platform, called Compliance Engine, includes transaction screening and monitoring tools to detect suspicious transactions and a service specializing in compliance with Know Your Customer (KYC) requirements such as US travel regulations. They are designed to identify customers through KYC and comply with them. That is why they have been trying to build capacity in this field for a decade. Even the company's CEO claims that they are taking these capabilities as they try to roll them out to their operations team and developers as well as build financial applications on-chain.
Its programmable wallet and smart contract platform are the core of all Kendra Circle. That's why they added it to Compliance Engine Circle's existing suite of Web3 developer tools. That's why they have initially selected which sites they will work with, and according to their Circle website, it has been announced that it will initially work on blockchain networks including Avalanche, Ethereum, Polygon PoS, Solana. Currently it is very popular and well known as stablecoin. As always, it competes for market dominance against stablecoin Tether's USDT, thus marking Circle's latest bid to accelerate USDC adoption. Although its market cap is much lower compared to USDT. It lags far behind USDT by market cap. But it is doing very well day by day and increasing the market cap.
However, increasing the market cap is very important to survive in this competition. That's why we have to compete a bit. Compliance is an important focus for Circle. which benefits from accelerating the adoption of tokenized real-world assets (RWAs), including tokenized investment funds. But an important point here is that they are trying their best to move their stablecoin to a good position and therefore they are taking appropriate steps. For example, currently the most popular tokenized RWA is an off-chain money market representing claims to funds. And it's an off-chain money market fund that offers low-risk returns in USD and often accepts payments in USDC.
