Circle’s USDC stablecoin has surged toward the $80 billion mark in circulating supply, while overtaking Tether’s USDT in adjusted transaction volume for the first time since 2019. New country-level ownership data also shows USDC leading in several individual markets, suggesting the stablecoin race is splintering into a region-by-region contest rather than a single global battle. USDC vs USDT War Splinters Into Regional Stablecoin Battles Tether’s USDT has long dominated the stablecoin sector. With a market capitalization of roughly $184 billion, it remains more than twice that of its nearest rival