Circle expands USDC support Polkadot, Cosmos and NEAR

Circle’s USDC will be available natively on Cosmos, Polkadot, Optimism, Arbitrum and NEAR networks.
The integration brings to thirteen the number of blockchains with native USDC support.

Circle Internet Financial, a leading digital financial technology firm that issues the USD Coin (USDC) and Euro Coin (EUROC) stablecoins, has announced expansion of its flagship product to five major blockchain networks.

Circle announced USDC expansion to top blockchains

At the Converge22 on 28 September, Circle revealed its plans to have USDC available on Polkadot, Arbitrum, Cosmos, NEAR, and Optimism, with the stablecoin going live on four of the blockchains by the end of 2022.

USDC is expected to be natively available on Cosmos in early 2023, the company noted in a press release.

The rollout will increase USDC’s availability on blockchain ecosystems – native as opposed to abridged availability – from the current eight to thirteen. Circle already offers native USDC integration for Ethereum, Solana, TRON, Algorand, Avalanche, Flow, Hedera, and Stellar.

Native USDC support for these platforms brings more liquidity and improves interoperability across the crypto industry for both developers and users, Joao Reginatto, VP of Product at Circle said in a statement.

Extending multi-chain support for USDC opens the door for institutions, exchanges, developers and more to innovate and have easier access to a trusted and stable digital dollar,” he added. 

3/ Upon launch, developers will be able to use Circle APIs for fiat on/off-ramps to and from USDC in their products, as well as programmable wallets infrastructure.

— Circle | #ConvergeSF22 | Sept 27-30 (@circlepay) September 28, 2022

Circle also announced a new Cross-Chain Transfer Protocol for USDC.

According to the company, the upcoming release is an empowering tool set to allow for USDC interoperability, improved liquidity across the crypto spectrum and reduced fragmentation of bridged assets.

Avalanche, BitGo, LayerZero Labs, and Wormhole will be among the first crypto platforms to integrate the Cross-Chain Transfer Protocol.

The post Circle expands USDC support Polkadot, Cosmos and NEAR appeared first on CoinJournal.

Leave a Reply

Your email address will not be published. Required fields are marked *