USDC Launches On Cosmos For Seamless Crypto Management

Key Points:

Circle’s USDC, the second-largest stablecoin, launches on Cosmos.
Highly liquid stablecoin issued on blockchain for the first time since Terra’s UST collapse.
Noble, an issuance chain built on Cosmos, is Circle’s issuance partner.

Circle’s USDC, the second-largest stablecoin on the market, is set to launch on Cosmos. This is a big step for Circle, which first announced its intent to launch on Cosmos in September 2022.

At that time, Circle shared plans to make USDC available on five additional blockchains, including Arbitrum, NEAR, Optimism, and Polkadot.

In order to make this launch possible, Circle has teamed up with Noble, an issuance chain built on Cosmos. As Circle’s issuance partner, Noble will help to ensure that over 50 IBC-enabled blockchains on the network have access to native USDC. This is a significant development, as it marks the first time a highly liquid stablecoin is issued on the blockchain since the collapse of Terra’s UST.

It should be noted that there are over 100 different bridged USDC assets on the network, highlighting the need for a native stablecoin. With this launch, Circle hopes to fill that gap and provide users with a stablecoin that is reliable and easy to use.

The launch of USDC on Cosmos was propelled by dYdX’s announcement that it would also be launching on Cosmos. This popular decentralized exchange has announced plans to build a proprietary IBC-enabled app chain, which will open up its service to millions of Cosmos users. This is a significant development for the Cosmos network, as it will help to increase the adoption and usage of the platform. With the launch of USDC and other stablecoins on Cosmos, it is clear that the platform is becoming an increasingly important player in the world of decentralized finance.

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Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.