Circle Launches USDC Stablecoin On Polkadot Network - Details
Bitcoinist
20 Sep 2023 12:00 AM
Circle has launched the USD Coin (USDC) on the Polkadot network, expanding the token’s native operations to 14 blockchain networks....
- Stablecoin issuer Circle has launched the USD Coin (USDC) on the Polkadot network, expanding its native operations to 14 blockchain networks.
- The Polkadot USDC will be issued on the network's Asset Hub, allowing easy movement of the stablecoin to other parachains using the XCM protocol.
- Björn Wagner, co-founder of Parity Technologies, expressed excitement about the launch, stating that it will boost liquidity and institutional access to the Polkadot ecosystem.
- Circle's USDC has been launched on four other blockchain networks in September, aiming to increase adoption of the stablecoin.
- Despite a decline in market share, USDC remains the second-largest stablecoin with a market cap of $25.51 billion.
The article primarily focuses on the positive development of Circle launching USDC on the Polkadot network, expanding its operations and increasing liquidity. The sentiment is generally optimistic and highlights the potential benefits of this integration.
You May Ask
What is the purpose of launching USDC on the Polkadot network?How can developers and users of the Polkadot network access the USDC token?What is the Asset Hub in the Polkadot network, and how does it facilitate the movement of digital assets?Which other blockchain networks have Circle's USDC been launched on in September?Despite a decline in market share, why is the integration of USDC on various blockchain networks considered a positive development?