Circle’s USDC Goes Live on Avalanche to Empower the DeFi Ecosystem

Circle, a digital payments company, has launched its stablecoin USDC via Avalanche. The stablecoin’s launch is intended to allow developers and communities to interact with eco-friendly platforms, and to accelerate Decentralized Finance (DeFi) adoption.

USDC now available on Avalanche

Official blog post states that users can now deposit, withdraw, send and receive payments as well as settle transactions using USDC on Avalanche.

This latest integration will allow developers and other participants to use Avalanche’s growing ecosystem for payment and transaction options. It includes enterprise applications, decentralized (DeFi), protocols, and non-fungible token marketplaces (NFT), among other things.

Circle’s extensive suite of APIs for developers is a great way to benefit. Jeremy Allaire, Circle’s CEO and co-founder, spoke out about the possibility of adding USDC support to Avalanche, at a time when DeFi markets are growing exponentially.

“With USDC being the most popular digital currency in the dollar for the decentralized economic system, this integration will prove to be a boon for developers and communities who want to join one of the fastest growing, organically growing crypto ecosystems.”

Avalanche’s CChain, which allows you to create applications and assets compatible for Ethereum, is one of the most popular smart contract blockchains. It is also cost- and time-efficient. USDC’s expansion of this contract chain will enable more developers.

USDC’s Expanding

Circle has made substantial progress in the past year to help USDC grow from $4 billion at its beginning. USDC now has a total supply of $41 billion.

It is the fastest growing stablecoin in 2021, even though its market value trailed behind Tether (USDT), the market leader. Avalanche is also available on six other networks: Ethereum, Algorand Hedera TRON, Stellar and Stellar.

Circle plans to make USDC accessible on additional blockchain platforms as part of its efforts to let users benefit from the speed, scaleability, and cost efficiency provided by next-generation public chain.

CryptoPotato reported last month that the blockchain-focused financial service company was seeking to establish a regional headquarters in Singapore as part its global geographical expansion.

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami