Circle Launches Native USDC Stablecoin on Ethereum Scaling Protocol zkSync ๐
Are you ready to explore the latest development in the crypto world? Circle, the stablecoin issuer, has exciting news for you. The dollar-pegged USDC is now available natively on the layer-2 Ethereum scaling protocol zkSync. Hereโs what you need to know about this game-changing update:
New Features of Native USDC on zkSync ๐
- zkSync announces that the native USDC on its platform is backed by Circle, offering additional benefits such as being regulated, fully reserved, and always redeemable 1:1 for US dollars.
- Institutional customers can mint and redeem USDC through Circle Mint for seamless integration into existing apps.
Transition from Bridged USDC to Native USDC ๐
- Native USDC will be labeled as USDC, while the existing bridged USDC will be renamed as USDC.e on block explorers and decentralized applications.
- Users and institutions can swap from USDC.e to USDC on their preferred decentralized exchange to facilitate the transition.
Expanded Support for USDC ๐
- Circle announces that USDC is now supported on 16 blockchain networks, showcasing its growing presence in the crypto ecosystem.
Accessing USDC on zkSync ๐ ๏ธ
- Businesses and institutions can access on/off-ramps for USDC on zkSync using Circle Mint and its APIs for efficient deposit and withdrawal processes across supported chains.
- Circle Mint aims to streamline the process, avoiding costs and delays associated with third-party bridging.
Hot Take: Embrace the Future of USDC with zkSync ๐
Get ready to leverage the native USDC stablecoin on zkSync for enhanced functionality and seamless integration with leading DeFi protocols. Circleโs latest move signifies a step towards innovation and accessibility in the crypto space. Dive into the world of USDC on zkSync and unlock a realm of possibilities for your digital assets.
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