Circle Announces Native USDC Access on NEAR Protocol
Financial technology company Circle has announced that its native stablecoin, USD Coin (USDC), can now be accessed on the NEAR protocol ecosystem. This means that users can gain access to the USDC NEAR pairing through Circle Account and Circle APIs. The integration of USDC on NEAR opens up various use cases such as low-cost payments, remittances, 24/7 trading, borrowing and lending, and the ability to hold savings in digital dollars without a bank account.
Partnership with Coinbase
Circle’s move to expand its reach in the US crypto ecosystem comes after Coinbase, a leading cryptocurrency exchange, purchased a stake in the company. This partnership could be significant as regulators may view it favorably due to both companies being based in the United States. In a similar move earlier this year, Circle introduced USDC natively on the Arbitrum Layer 2 network.
Hot Take: Circle Expands USDC Reach on NEAR Protocol
Circle’s announcement of native USDC access on the NEAR protocol ecosystem is a significant step towards expanding the usability and accessibility of its stablecoin. By leveraging the speed and scalability of the NEAR blockchain, developers can now build fast and user-friendly applications using USDC. This move also strengthens Circle’s position in the US crypto market, especially with the backing of Coinbase. As cryptocurrencies continue to gain mainstream adoption, partnerships like these will play a crucial role in shaping the future of digital finance.
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