Circle Expands USDC Use Cases with Sei Network Investment
Stablecoin issuer Circle is investing in a new layer-1 blockchain to broaden the utility of USDC, its dollar-pegged digital asset.
In a recent company blog post, the Sei Network (SEI) – which claims to be the fastest blockchain in the world – reveals that Circle’s venture capital branch is investing in it to expand the use cases for USDC.
Some of the potential applications include instantaneous transaction settlements, improved access to cross-border payments, and increased liquidity for users and developers of Sei.
“Sei is designed specifically to address the primary use case of cryptocurrency – the exchange of digital assets. This blockchain isn’t just fast; it’s the fastest, achieving 390ms time to finality and boasts unparalleled speed. Sei is positioned as the answer to the industry’s long-standing need for efficiency and scalability.”
Through integration with Sei, USDC will provide developers and entrepreneurs around the world something they’ve never had before: the ability to build products and commerce on an open platform globally, quickly, and cheaply with instantaneous transaction settlement.
USDC on Sei will unlock more efficient and accessible means for cross-border transactions, improve existing payment infrastructure, and significantly enhance the liquidity of the digital asset markets for users and developers on Sei.
According to Wyatt Lonegram, principal at Circle Ventures,
“The Sei ecosystem aligns with our commitment to working with founders and teams dedicated to open access and programmable commerce. We look forward to working closely with the Sei team on integrating USDC for developers and users for high-speed and cost-efficient transactions on the network.”
Hot Take
Crypto giant Circle’s strategic investment in Sei Network’s layer-one blockchain aims to revolutionize the use cases for USDC by providing faster transaction settlements, improved cross-border payments, and enhanced liquidity in digital asset markets.
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