In a significant move within the crypto realm, Circle, the company behind USD Coin (USDC), said it will extend support for its stablecoin to six more blockchains in the next two months.
The key points of the content are:
- USDC, already available on nine blockchains, will be rolled out on additional chains.
- The new integrations are expected to be Base, NEAR, Optimism, Polkadot, Polygon PoS, and Cosmos.
- The integration of six new blockchains will be a major step in the growth of USDC.
- Coinbase secured an undisclosed stake in Circle, leading to the disbandment of the Center Consortium.
- USDC aims to be widely accessible and usable across various chains.
The Stablecoin Buzz
The stablecoin market has been seeing significant activity, with PayPal introducing its own stablecoin, PYUSD, and Coinbase and Circle expanding USDC’s reach. This indicates a thriving stablecoin market with potential use cases beyond crypto trading.
Hot Take: The expansion of USDC to six more blockchains is a significant development that will enhance the stability and usability of the stablecoin. This move by Coinbase and Circle suggests a growing demand for stablecoins and their potential to revolutionize various financial sectors.
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