USDC news

Circle and Tereina have partnered to integrate USDC and EURC into SAP Pay, a new payment service built into SAP Cloud ERP. The service, launched on October 6, 2026, lets businesses pay suppliers using stablecoins or traditional currencies, with support for ACH, EFT, wire, check, and stablecoin settlement. Tereina claims SAP Pay can cut payment costs by up to 25%. Initially available in the US and UK, SAP Pay transacts across 89 global payment corridors, with Arc blockchain as the preferred network for eligible transactions. This marks SAP's first native payment integration and lowers barriers for stablecoin adoption by embedding them into existing business workflows. The inclusion of EURC offers a euro-denominated option for companies with European exposure.

OKX added Circle, Ripple, QRT and SC Ventures as strategic investors at a $25 billion valuation, extending a March round led by NYSE owner ICE. The exchange said the move was for strategic fit, not capital needs, aiming to deepen ties in stablecoins, payments and institutional markets. On Oct. 6, OKX launched OKX Money, a standalone app for saving, sending and spending stablecoins (USDG, USDC, USDT) with global transfers, cards and up to 10% annual yield. Targeting users new to crypto, the app aims to expand beyond trading, with a gradual rollout across participating markets.

Circle's European redemption policy allows temporary delays for USDC redemptions if reserves cannot be rebalanced between its French and U.S. issuers. Under stress events, authorized crypto providers may face redemption caps based on reported holdings, while other EEA holders may face checks verifying pre-stress EEA origin. The par-value redemption right remains, but immediate cash access could be deferred. These contingency provisions are part of Circle's response to the European Commission's MiCA review, as it argues for preserving cross-border co-issuance to maintain global stablecoin liquidity. The European Systemic Risk Board, however, has recommended MiCA not permit such schemes, highlighting operational risks. The documents reviewed do not indicate an active failure, but they show the potential limits on European access during stress.

Hyperliquid has received its first $14.58 million USDC payment to fund HYPE token buybacks through the AQAv2 protocol, which was activated in August 2026. The protocol directs about 90% of eligible USDC reserve yield into buybacks, providing a recurring revenue stream beyond fees. Market observers suggest this could positively influence HYPE sentiment and support its market price by improving liquidity and demand. Markets will likely monitor subsequent USDC payments and any further announcements for impact on HYPE's price trajectory through 2026.

Circle has urged the European Commission to remove fixed bank deposit requirements for stablecoin reserves under the EU's Markets in Crypto Assets regulation, proposing liquidity-based rules instead. The USDC issuer argues that mandatory deposits expose stablecoin issuers to banking risks, citing its experience with the $3.3 billion in reserves caught in the Silicon Valley Bank collapse. This aligns with a similar proposal from the European Central Bank and national central banks. Circle also requested preservation of multi-issuance arrangements and a recognition system for foreign stablecoin issuers, while other industry groups sought changes to perpetual futures regulation and clearer token classification rules. The European Commission's consultation will inform its assessment of the MiCA regulation as crypto markets evolve.

Circle, the issuer of USDC and EURC, has filed a response to the European Commission's review of the Markets in Crypto-Assets regulation (MiCA), urging the EU to replace mandatory bank-deposit minimums with more flexible, liquidity-based reserve rules. Under current rules, issuers of electronic money tokens must hold at least 30% of reserves as commercial bank deposits, rising to 60% for significant tokens. Circle argues these fixed floors could stress banks during redemptions and supports dynamic liquidity requirements, a stance echoed by the European Central Bank. The company also advocates for multi-issuance models allowing the same token to be issued across jurisdictions, including the EU, and supports an equivalence regime for foreign issuers to prevent activity from moving outside the EU framework. Currently, around 30 EMTs have been authorized under MiCA, but only three of the top 25–30 stablecoins are compliant: USDC, EURC, and USDG. EURC's circulation has reportedly grown to approximately €400 million, reflecting over 100% year-over-year growth.

Circle urged the European Commission to revise stablecoin reserve rules in its response to a consultation on reviewing the EU's Markets in Crypto-Assets Regulation (MiCA). The USDC and EURC issuer said mandatory bank-deposit requirements expose stablecoin issuers to banking-sector credit and counterparty risks, citing its own experience in March 2023 when USDC temporarily lost its dollar peg due to reserves held at Silicon Valley Bank. Circle backed replacing deposit minimums with a more flexible liquidity requirement, aligning with the European Central Bank, and called for removing two reserve concentration limits. It also urged preserving multi-issuance structures to avoid pushing users toward offshore providers outside MiCA's protections. The consultation closed Wednesday, and responses will inform the Commission's assessment of the regulation. Industry groups also responded, including the Hyperliquid Policy Center, which urged treating crypto perpetual futures under existing EU derivatives rules, and the Global Blockchain Business Council, which recommended clearer token classification and changes to cross-border stablecoin rules.

Circle has urged EU policymakers to revise MiCA's stablecoin rules, noting that only three of the top 30 stablecoins—USDC, USDG, and EURC—currently comply. The company's Oct. 1 submission calls for preserving cross-border issuance arrangements, replacing mandatory bank deposit thresholds with liquidity-based rules, and creating a recognition route for foreign-regulated stablecoins, drawing on the U.S. GENIUS Act. Circle argues that fixed deposit requirements increase bank credit risks and that sovereign and bank exposure limits add operational complexity. It also proposes that foreign issuers remain primarily supervised in their home jurisdiction while distributing tokens in Europe through local licensees. Separately, Hyperliquid has asked regulators to keep perpetual futures under MiFID II, classifying them by economic features rather than blockchain technology.

Hyperliquid Policy Center (HPC) and Circle have submitted responses to the European Commission's MiCA review, urging changes to the regulation. HPC argues that crypto perpetual futures should be classified as derivatives under MiFID II, not MiCA, citing their economic features and the existing framework's capacity to accommodate them. The group also calls for clear disclosure of funding methodologies and other trading parameters, while warning against treating perps like CFDs. Circle, in its submission, targets MiCA's stablecoin reserve rules, advocating for the removal of the 30% bank deposit floor and of EBA technical standards that limit exposure to single sovereigns and banks. It argues the current rules hinder the growth of regulated stablecoins like USDC and increase counterparty risk. Circle also defends multi-issuance arrangements, saying restricting them would push EU users to offshore providers. Other respondents included Deutsche Börse Group, proposing a new category for settlement stablecoins, and Chamber of Progress, supporting rewards on e-money tokens and backing multi-issuance.

Circle minted approximately 13.50 billion USDC on Solana in September, setting a new monthly record for stablecoin issuance on the network. The mints occurred in repeated batches, often of $250 million, with a peak of $3 billion issued within a single 24-hour window. This surpassed August's gross issuance of about $11 billion, which was the previous high. Gross minting figures do not reflect net growth in circulating supply, as many mints first land in treasury or issuer-controlled wallets. By late August, USDC supply on Solana had surpassed $8 billion, representing over 10% of global USDC. Solana's total stablecoin supply reached an all-time high of around $17.3 billion by September 25, driven mainly by USDC and Tether. Circle also partnered with Binance in September, including a $100 million equity stake and a multi-year agreement to promote USDC. The key metric to monitor is the difference between gross issuance and net circulating supply growth. If net supply rises alongside gross mints, it indicates dollars settling into the ecosystem; if the gap persists, Solana may be serving as a high-speed transit route for institutional flows. Future data points include October's mint totals and whether Solana's stablecoin supply holds above its recent peak.