Circle issues native USDC stablecoin on Polkadot

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By BitcoinWiki News

Key Takeaways:

– Circle has deployed the USDC stablecoin in the Polkadot ecosystem
– Polkadot is an interoperability network connecting application-specific blockchains (parachains)
– USDC has been issued on the Polkadot Asset Hub, allowing the stablecoin to be transferred to parachains
– USDC can be redeemed for U.S. dollars at a 1:1 ratio
– Polkadot-based projects such as Centrifuge, HydraDX, and Moonbeam now offer USDC to users
– USDC is also available on other blockchains including Ethereum, Solana, Arbitrum, Polygon PoS, Base, Optimism, and Tron
– USDC has an aggregated market value of $26 billion according to CoinGecko


Circle, the stablecoin issuer, has integrated its USDC stablecoin into the Polkadot ecosystem, expanding its availability to new blockchains. Polkadot is an interoperability network that connects different parachains, and Circle has issued the native version of USDC on the Polkadot Asset Hub. This allows the stablecoin to be transferred to parachains using the XCM protocol, making it accessible to all interconnected parachains and their users. USDC is now offered as the flagship stablecoin by projects such as Centrifuge, HydraDX, and Moonbeam. This move makes Polkadot the latest blockchain to support USDC, joining others such as Ethereum, Solana, and Tron. USDC is currently the second largest stablecoin with a market value of $26 billion.

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