At the Converge22 conference in San Francisco, Circle announced the USDC stablecoin support to five new blockchain ecosystems: Arbitrum One, NEAR, Cosmos, Optimism, and Polkadot.
According to the announcement, “By the end of 2022, USDC intends to be available natively on Arbitrum One, NEAR, Optimism, and Polkadot. USDC on Cosmos intends to go live in early 2023.”
Circle already natively supports USDC on Algorand, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and TRON in addition to integrating with these new blockchains.
According to Joao Reginatto, vice president of product at Circle, the expansion to new chains enable blockchain developers building on USDC and their users to experience greater liquidity and interoperability within the crypto economy.
At implementation, developers will be able to incorporate programmable wallet infrastructure and fiat on/off-ramps to and from USDC in their products using Circle APIs.
It will be easier for developers to create new apps that let users send, spend, and exchange money worldwide thanks to the inclusion of USDC in these ecosystems.
“Extending multi-chain support for USDC opens the door for institutions, exchanges, developers and more to innovate and have easier access to a trusted and stable digital dollar” Reginatto noted.
Recently, crypto exchanges like Binance and WazirX announced the delisting of USDC. Circle CEO Jeremy Allaire is optimistic about the decision saying this would only increase the utility of USDC and lead to more USDC flowing to Binance.
Nonetheless, some good news started flowing in for Circle with FV Bank enabling deposits in USDC and payment firm Stripe announced allowing crypto payments in USDC for freelancers.
