Circle curbs stablecoin minting for retail users

Nov 01, 2023
Circle announced the termination of support for individual accounts and notified some users about this decision personally. Account closures do not apply to Circle Mint institutional accounts.

Currently, Circle interacts only with institutional clients. According to the company’s official representative, retail users can access the USDC through brokerage companies, crypto exchanges and digital asset wallet services.

Limiting the number of investors is a step towards the main competitor Tether, which has limited the issue of USDT to $100 thousand.

USDC is the second largest stablecoin with a capitalization of $25 billion. It is worth noting that this year USDC has lost 43% of its market capitalization, while USDT has soared to a new record high of $84 billion.