Categories: Analysis

USDC officially released on TRON (TRX) blockchain

Circle, the company behind stablecoin USDC, announced the expansion of USDC to the Tron blockchain network.

Kreis stated on the first day in July 2021:

“The expansion of USDC on the TRON blockchain will make USDC easier for millions of Asian users.”

Previously, Circle issued USDC on 4 blockchains, Ethereum, Stellar, Algorand, and Solana. Messari predicts that USDC will become the “dominant” stablecoin on Ethereum

Not that long ago, USDC’s CENTER administrative center said that USDC could soon expand operations to 10 different blockchains.

And Tron is the 5th blockchain on which this stablecoin is officially present.

(1/2) ???? Breaking news!

????Excited to announce @centre_io #USDC will be available on #TRON.

???? $ USDC, the world’s leading digital dollar stablecoin brought by @circlepay & @coinbasethat creates opportunities for payments, lending, investing, trade and trade finance. https://t.co/6J7nEp8ra1

– Justin Sun (@justinsuntron) June 30, 2021

In addition, on June 29, Tezos announced that the USDC integration will happen soon.

Circle CEO Jeremy Allaire shared:

“Tron has built a very large and successful blockchain network and platform. At the same time, Tron is one of the most widely used platforms for stablecoin transactions. We are excited to bring the benefits of a trustworthy crypto USD like USDC to this growing ecosystem. “

The rapid expansion confirms USDC’s role as a “potential competitor” to USDT, the stablecoin issued by Tether. The integration on Tron is the step that clearly shows this message. Because this blockchain is considered the top priority of USDT. According to information from Tether, there is currently around 32 billion USDT on Tron (USDT TRC20) versus 31 billion USDT on Ethereum (USDT ERC20).

In the end! After 729 days of efforts, USDT on #TRON (23.9 B) outperformed USDT #Ether (23.4B). It’s a historic moment.

– Justin Sun (@justinsuntron) April 14, 2021

Distribution of the total supply of USDT via blockchains in a year-on-year comparison. Updated until April 27, 2021. Source: Kyros Ventures

Currently, USDT is available on 8 blockchain platforms with a market cap of $ 63 billion. USDC now has a market capitalization of $ 25 billion.

Since its boom and development into a $ 100 billion sector of the crypto economy, the stablecoin market has received increasing attention from regulators in the US and abroad.

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