- Oct 25, 2021
- Reaction score
Native USDC Support on Avalanche
Circle, the issuer of USDC, has
This was viewed by some as causing friction due to associated fees. Now, users of the Circle platform will be able to mint and redeem USDC directly on top of Avalanche’s C-chain. Jeremy Allaire, CEO of Circle,
With USDC as the leading dollar digital currency for the decentralized economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto.
John Wu, president of Ava Labs, also commented on the launch, stating that this partnership could help users tackle problems with the usage of fiat for different purposes. He stressed:
A fundamental restructuring of legacy payments and financial infrastructure is not only warranted but overdue. Together, Avalanche and Circle will pioneer solutions to these systemic challenges.
Circle’s Multi-Chain Strategy
This latest move is part of an expansion policy Circle
This expansion policy has been cited as one of the causes for the growth USDC this year, which experienced a 10x rise in market cap. Starting January 1st, there was a little more than 4 billion USDC in circulation, and now there are 40 billion coins, with the number still growing. However, even with all this growth, it is yet second to
What do you think about the launch of USDC on Avalanche? Tell us in the comments section below.