More than $50 million in USD Coin (USDC) has been borrowed this year across top platforms, an achievement that highlights the power of DeFi and the benefits of stablecoins.

USDC has reached $50 million in loans originated this year across DeFi platforms Compound, Dharma, and dYdX, according to data from Loan Scan, the most by far of any fiat-backed stablecoin. About 1 in 10 loans originated this year on these platforms has been denominated in USDC. On the flipside, over $146M in USDC has been supplied as collateral across those platforms.

USDC Stablecoin Surpasses Another DeFi Milestone: $50m Borrowed for Loans was originally published in CENTRE blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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