The first quarter of 2021 has been one of explosive growth for Centre and for USDC, the world's most trusted stablecoin. After starting the year at just over $4 billion, last week we reached $11 billion in market cap.
We began the year with the announcements that USDC was fully integrated with the Algorand, Stellar and Solana blockchains. Activity on these chains has doubled over the past month. We look forward to sharing more news on our multi-chain approach in the coming weeks.Use cases for USDC are expanding each day with notable applications across the defi space and significant activity in the NFT world. Importantly, interest in using USDC for payments across a wide range of companies in both traditional finance and in neo-banking is growing on a daily basis.
As a company, we are continuing to focus on enhancing Centre's standards work, developing international partnerships, expanding our work with new blockchains and hiring for key positions.
On the hiring front, I am very pleased to announce that Amy Luo has joined Centre as General Counsel. Amy comes to Centre from Coinbase where, in addition to her responsibilities as Counsel, she played a key role in working to build Centre from inception.
USDC at $11 billion is just one marker of the work that Centre is doing but one about which we are very proud. There are many more milestones that we expect to reach in the coming months.
Our work is just getting underway.