👀Circle plans to introduce a refund mechanism for USDC transfers… with a

👀Circle plans to introduce a refund mechanism for USDC transfers… with a
caveat
A refund feature for transactions sent to fraudsters could bring stablecoins closer to the traditional financial system.

▶️Circle, the world’s second-largest stablecoin issuer, appears determined to challenge for the top spot. This year, the company began testing its proprietary blockchain Arc, designed for transactions between banks and financial institutions. While the platform does not allow direct transaction cancellations, it could implement an additional layer enabling coordinated refunds similar to credit card chargebacks.

▶️Some industry voices argue that such initiatives represent a significant departure from the principle of data immutability, thereby undermining trust in the very foundation of blockchain technology.

▶️Context: currently, around USD 74 billion in USDC is in circulation. By comparison, USDT from Tether has about USD 173 billion, while USDe from Ethena accounts for USD 14.3 billion.

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