Circle launches its USDC stablecoin on the Polygon blockchain
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Answer Circle launches its USDC stablecoin on the Polygon blockchain
in statement A press release on Tuesday told crypto-focused fintech company Circle that it has offered its US dollar-pegged stablecoin (USDC) on the Polygon network.
Before USDC was available on the Polygon network, users had to link USDC from Ethereum to Polygon, but there is no longer a need for such a time-consuming process.
Due to the addition of Polygon’s native USDC, traders can now instantly convert their fiat currency deposits into the second largest stablecoin via their Circle account.
Polygon co-founder Sandeep Nailwal stated:
Polygon USDC will make it possible for companies and cryptocurrency exchanges to make cost-effective payments.
While Jeremy Allaire, CEO of Circle, commented:Read:“Brave” or “Opera” browser, which one is better for browsing the Internet more privately?
One of the leading stablecoins has increased its interoperability.
The USDC stablecoin is also issued on Ethereum, Stellar, Algorand, and many other blockchains.
Polygon has emerged as a solution to Ethereum’s second layer scaling.
With a market capitalization of $53 billion, USDC is the fourth largest cryptocurrency (behind USDT, Ethereum and Bitcoin).Read:Huobi allocates $100 million to facilitate adoption of Metaverse technology
The world’s largest stablecoin, Tether, which is the world’s largest stablecoin, was added in support of the Polygon network last month.
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