Stablecoin Issuer Circle Brings USDC to Celo Blockchain
Circle, the issuer of stablecoin USDC, has announced its plans to launch USDC on the Celo blockchain. Celo is a mobile-first blockchain that is compatible with the Ethereum Virtual Machine (EVM) and is transitioning into a layer-2 solution. Its native token, CELO, has various use cases including governance, staking for rewards, and reduced transaction fees.
USDC Expands its Reach
The Celo Foundation has revealed that USDC will be natively available on the Celo blockchain. As the second-largest US-dollar pegged stablecoin by market cap, USDC is positioned as a leading crypto asset. Isha Varshney, Head of Strategy and Innovation at the Celo Foundation, expressed excitement about bringing real-world assets on-chain through the partnership with Circle and the launch of USDC on Celo. Shamus Noonan, senior manager of business development at Circle, highlighted how this collaboration will expand access to USDC and leverage Celo’s mobile-first user base in regions with high blockchain adoption.
Celo’s Market Performance
At the time of writing, CELO is valued at $0.680, showing a 1.5% increase in the past 24 hours.
Hot Take: Circle Expands USDC’s Reach with Celo Integration
Stablecoin issuer Circle has made a significant move by bringing its popular stablecoin USDC to the Celo blockchain. This integration expands the reach of both projects and opens up new opportunities for users. By leveraging Celo’s mobile-first approach and growing user base in regions with high blockchain adoption rates, Circle aims to increase accessibility to USDC. The partnership between Circle and Celo demonstrates the ongoing efforts to drive real-world adoption of cryptocurrencies and stablecoins. As the industry evolves, collaborations like this will continue to shape the future of blockchain technology and digital assets.
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