According to Coinbase, USDC has seen “conservative” adoption outside the United States, due to the costs required to convert their non-USD currencies.
) has been “more conservative” outside of the U.S., which it believes is a result of international currency conversion fees.with U.S. dollars as compared to other currencies.
“Currently, 3x more USDC is bought with USD versus non-USD currencies. In part this is because, outside of the US, users usually have to pay fees in the process of converting their local currency into USDC, and this is a barrier to broader international adoption.” The U.S. dollar-pegged cryptocurrency is currently the second-largest stablecoin by market capitalization under Tether (
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