Demex Daily #70: USDC's Growing Role in Asian Remittances and Trade Finance

What’s Interesting Today:

Circle's recent report reveals a significant increase in the use of its USDC stablecoin for remittances in Asia, with $130 billion flowing into the region in 2022. This growth is part of a broader trend where USDC has facilitated over $12 trillion in blockchain transactions since 2018. The report emphasizes USDC's impact in emerging markets, particularly for remittance transfers and bridging the $510 billion trade finance gap in Asia. The decline in stablecoins' use for speculative trading, with a 90% drop over five years, and the notable adoption in Latin America, where 33% of consumers have used stablecoins for payments, are also highlighted.

Jupiter, a prominent Solana-based decentralized finance (DeFi) aggregator, has announced the launch date for its eagerly awaited JUP token airdrop as January 31, targeting nearly a million Solana DeFi users. The airdrop will distribute one billion JUP tokens, with allocations based on users' trading volume and activity on Jupiter. Every user will receive a minimum of 200 JUP, with additional tokens for those meeting certain criteria. Alongside this, Jupiter plans to release three more community airdrops, each consisting of one billion JUP. The total distribution will amount to 5 billion JUP, half of the total supply, with the rest managed by the Jupiter team. Moreover, Jupiter is set to introduce a meme coin on its platform as a precursor to the JUP airdrop, using this launch as a test for its new launch platform. Details about the meme coin's distribution remain unspecified.

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