Circle launches USDC stablecoin on Polkadot Asset Hub


19 Sep 2023 2:11 PM

USDC issuer Circle has officially launched USD Coin on the Polkadot network, expanding the number of supported blockchains to 14 networks....

  • USD Coin (USDC), the second-largest stablecoin, has expanded to the Polkadot blockchain network.
  • USDC can now be transferred to parachains in Polkadot via the XCM protocol using Circle Account and Circle APIs.
  • Polkadot USDC is natively issued on Polkadot Asset Hub, a common parachain for issuing and managing digital assets.
  • Circle Account and Circle APIs only support Polkadot USDC issued on Polkadot Asset Hub.
  • USDC now supports a total of 14 blockchain networks, including Ethereum, Tron, Stellar, Solana, and Polkadot.
  • The integration with Polkadot aims to maintain Circle as an interoperable cryptocurrency and support low-cost payments.
  • Polkadot features trading, borrowing, and lending on parachains like Centrifuge, HydraDX, and Moonbeam.
  • Polkadot is a network of multiple independent blockchains that operate in parallel for faster transactions and enhanced security.
  • USDC supports more blockchain networks than rival stablecoin USDT, which supports 11 networks.

The article provides positive news about the expansion of USD Coin (USDC) to the Polkadot blockchain network, highlighting its availability for developers and users, as well as the support for trading, borrowing, and lending on Polkadot parachains.

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You May Ask

What is the second-largest stablecoin by market capitalization after Tether?Which blockchain network has USD Coin (USDC) recently been launched on?How can USDC be transferred to parachains in Polkadot?How many blockchain networks does USDC now support?What are some of the features enabled by the integration of USDC with Polkadot?

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