USDC Issuer Circle Introduces Cross-Chain Protocol to Support USDC Interoperability and Reveals It Intends to Make USDC Available in Five Additional Blockchain Ecosystems
The protocol was announced during the company’s first crypto conference in San Francisco on Wednesday. It is expected to launch on Ethereum and Avalanche mainnet later this year.
Additionally, the protocol allows USDC to be sent through different systems to improve liquidity and reduce fragmentation of bridged assets.
“Users today are limited to transferring USDC across the blockchain ecosystem,” the company said. “Existing solutions often require locking USDC on one chain and creating a synthetic version of USDC, making liquidity fragmented and difficult to use.”
The company also announced that it intends to make USDC available to five additional blockchain ecosystems in the coming months: Arbitrum, Cosmos, NEAR, Optimism, and Polkadot.
“Expanding multi-chain support for USDC will open the door for institutions, exchanges, developers, and more to innovate and have easier access to reliable and stable digital dollars,” said Joao Reginatto, VP of Product at Circle. say
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