Circle Announces Next Wave of USDC Support for Cross-chain Ecosystem

Circle Internet Finacial, the company behind the second-largest stablecoin USD coin (USDC), will extend USDC to five more blockchains to boost access across different chains and increase its market position. Cross-Chain Transfer Protocol Circle also launched a mechanism called the Cross-Chain Transfer Protocol to improve USDC transfers between blockchains. The company revealed its strategy during its Converge22 conference on Wednesday in San Francisco. 1/ Announcement alert at #ConvergeSF22 🚨We are excited to share the news around Circle’s all-new Cross-Chain Transfer Protocol to support USDC interoperability for developers & their users 🙌 pic.twitter.com/SOyYwHjTMV — Circle | #ConvergeSF22 | Sept 27-30 (@circlepay) September 28, 2022 Following the release, USDC will start trading on the Optimism, Polkadot, NEAR, and Arbitrum One chains before the end of this year to join the Cosmos ecosystem in early 2023. Circle’s growth coincides with intensifying competition between stablecoins or cryptocurrencies linked to monetary units like the dollar. In the world of cryptocurrencies, stablecoins make up a $150 billion asset class and serve as a crucial trading and transactional link between conventional finance and the crypto world. The second-largest stablecoin of its sort, USDC, is frequently utilized on platforms for decentralized finance (DeFi). Cross-Chain to Develop Accessibility of USDC Joao Reginatto, vice president of produ...