Driven by geopolitical tensions, Dubai's demand for stablecoins has surged, with USDC issuing over 2.3 billions in the past week.
BlockBeats News, March 12, according to local UAE sources @rami_hashimi, due to geopolitical circumstances, there has been a surge in demand for stablecoins in Dubai, with "OTC counters crowded with people inquiring about USDC".
Sources stated that, due to inefficient bank wire transfers in the region, large amounts of funds have shifted to on-chain transactions.
According to DefiLlama data, USDC supply has surged by 3.03% in the past week, equivalent to approximately 2.36 billions USD.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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