Ethereum News Today: USDC Ethereum Volume Hits $748.3B Record on 300% Surge in 7 Months

According to the CoinRank Crypto Digest (8/25), the usage of USDC on the Ethereum network reached a record high of $748.3 billion in monthly transaction volume in July 2025. This represents a significant 300% increase compared to the lows observed in January 2024, with 8.3 million transactions recorded during the period [1]. The surge underscores USDC’s growing role as a “digital dollar” in decentralized finance (DeFi), cross-border payments, and institutional use cases. Analysts highlight the stablecoin’s strong liquidity and expanding utility, particularly following partnerships with firms such as Coinbase and BlackRock. Social media platforms such as X also report that USDC’s market share on Ethereum has grown to 68% [1]. However, as usage volumes approach those of traditional banking systems, concerns about regulatory scrutiny are rising. The expanding scale of USDC usage may prompt regulators to impose tighter oversight, which could affect costs or adoption rates in the long term.

The record volume also reflects USDC’s integration across 23 blockchains, which has further solidified its dominance in the stablecoin market. However, it faces ongoing competition from Tether, particularly in non-U.S. markets where Tether holds strong positions [1]. The growing demand for compliance and transparency is also evident in recent developments, including the Hong Kong Monetary Authority’s plan to enforce Basel Committee crypto asset capital rules starting in 2026 [2]. Under these rules, assets on permissionless blockchains may be assigned a risk weight of up to 1250%, effectively increasing the capital requirements for banks holding such assets. Experts suggest that this could discourage banks from directly holding crypto assets, particularly volatile ones like Bitcoin, but may drive demand for regulated stablecoins like USDC [2].

In another related development, the SBI Group has partnered with Chainlink to accelerate the adoption of tokenized assets and stablecoins in Japan and the Asia-Pacific region [3]. The collaboration focuses on cross-chain solutions for tokenized real-world assets, such as real estate and bonds, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The initiative also includes on-chain net asset value (NAV) data for tokenized funds, enhanced liquidity, and support for PvP (Peer-to-Peer Value) in foreign exchange and cross-border payments. Additionally, the partnership aims to provide transparent stablecoin verification through Chainlink Proof of Reserve. Analysts view this as a step forward in bridging traditional finance and blockchain, with SBI leveraging its $200 billion asset base and Chainlink’s oracle infrastructure to build trust and compliance [3].

The strategic collaboration aligns with broader global trends toward institutional adoption of digital assets, particularly in markets with advanced financial infrastructure such as Japan. If successful, the initiative could enhance liquidity for stablecoins like USDC, which are supported for cross-chain transfers. However, the success of such projects will depend on navigating regulatory frameworks and scaling beyond pilot programs [3].

Source: [1] CoinRank Crypto Digest (8/25)｜USDC Ethereum Usage Hits Record $748.3B Monthly Volume (https://coinmarketcap.com/community/articles/68ac341b91706d63d12ab41d/)