Circle USDC Standard, Linea and Scroll Lead the Charge!
- Launches bridging USDC standard to boost usage and reduce fragmentation.
- EVM chain now supports seamless deployment; 15 blockchains issue and circulate USDC standard.
- Avalanche, Cosmos, and Polkadot ecosystems adopt native issuance for enhanced utility.
Circle has unveiled a groundbreaking initiative with the launch of the bridging USDC standard, a strategic solution aimed at expanding the utility of USDC and mitigating fragmentation within the crypto space.
This innovative standard allows the deployment of bridging USDC token contracts on the EVM chain, offering the flexibility to seamlessly upgrade to native releases in the future.
As of November 2023, USDC has made significant strides by being issued and circulated on 15 different blockchains. This move not only enhances accessibility but also contributes to the broader adoption of USDC across diverse blockchain ecosystems.
USDC’s Interstellar Expansion Unveiled!
In the Avalanche ecosystem, USDC is now natively issued on the Avalanche C chain, with the added capability of being transferred to the Avalanche subnet through the use of Avalanche Warp Messaging (AWM). Similarly, within the Cosmos ecosystem, USDC is natively issued on Noble and can be seamlessly transferred to the Cosmos application chain through inter-blockchain communication (IBC). The Polkadot ecosystem also witnesses the native issuance of USDC on Asset Hub, with the added feature of being transferable to Polkadot parachains via Cross Consensus Messaging (XCM).
Furthermore, the teams at Linea and Scroll have demonstrated their commitment to innovation by adhering to the standards set by Circle for bridging USDC token contracts. This adherence applies across both their testnet and mainnet networks, showcasing a unified effort towards seamless and standardized integration within the crypto landscape.
Circle’s bridging USDC standard not only propels the token’s versatility but also establishes a more connected and interoperable crypto ecosystem, marking a significant step forward in the evolution of digital finance.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.