USDC sees native start at avalanche -

USDC, the second largest stable coin after market capitalization, was introduced as a native token on the Avalanche blockchain. Previously, users who wanted to receive USDC in Avalanche had to bridge them via Ethereum. Well, Circle, the issuer of USD Coin (USDC), enables users to shape token directly on Avalanches C- to Cchain, which saves fees and the need for bridges to wrap this token.

Natural USDC support for avalanches

Circle, the issuer of USDC, has announced The introduction of his stable coin in the Avalanche network. From this development, Circle expects new opportunities and payment options for projects that are specially developed in the Avalanche ecosystem. While Avalanche users had already had the stable coin in the chain, she was in a packaged condition and the users had to bridge their Ethereum version.

This was considered by some as a loss of friction due to the associated fees. Now users of the Circle platform USDC can shape and redeem directly on the C chain of Avalanche. Jeremy Allaire, CEO von Circle, specified :

with USDC as a leading digital dollar currency for the decentralized economy, this integration will be of crucial importance for developers and communities who want to participate in one of the fastest organically growing ecosystems in the crypto range.

John Wu, President of Ava Labs, also commented on the introduction and explained that this partnership could help users solve problems with the use of Fiat for various purposes. He emphasized:

A fundamental restructuring of the old payments and the financial infrastructure is not only justified, but overdue. Avalanche and Circle will be a pioneer for solutions for these systemic challenges.

Circles Multi-Chain Strategy

This latest step is part of an expansion policy circle in June, with the goal, to ten more Starting blockchains with the aim of expanding its presence in defi environments. The implementation of this strategy has been progressing since then, with USDC being on the market and now on Avalanche.

This expansion policy was named as one of the reasons for the growth of the USDC this year, which recorded a 10-time increase in market capitalization. From January 1, a little more than 4 billion USDC were in circulation, now there are 40 billion coins, and the trend is rising. Despite all this growth, however, it is still in second place usdt , which has a market capitalization of more than 77 billion US dollar.

What do you think of the introduction of USDC to avalanche? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He described himself as late at the game and entered the cryptosphere when the price increase took place in December 2017. With a background in computer technology that lives in Venezuela and is affected by the cryptocurrency boom at the social level, it offers a different view of the crypto success and how it helps the non-banks and under-sector.

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