Polygon MATIC/USD, the main layer 2 scaling resolution on Ethereum ETH/USD, will now benefit from the addition of USDC USDC/USD stablecoin on its blockchain community. It has the most important developer ecosystem and the strongest liquidity amongst all blockchains. PolygonUSDC can be accessible by a free Circle Account and thru dApps on Polygon.
Circle is just not launching USDC natively on Polygon, however is initiating help of the present, broadly used Polygon USDC inside the Circle Account and Circle APIs.
The Polygon Bridge was created by Polygon to help customers in bringing digital property (like USDC) from Ethereum over to Polygon to leverage lowered transaction prices and sooner settlement occasions. The Polygon ecosystem consists of greater than 19,000 dApps and transacts with over 2.7 million month-to-month lively customers.
Additionally Learn: Ethereum Network Activity ‘Rather Disappointing’ After Shanghai Upgrade: JPMorgan
Circle stated that the proportion of person-to-person transfers in all cross-chain USDC transactions on Polygon has elevated from 16% in January 2023 to 40% in June 2023.
USDC Stablecoins Networks Growth
Circle beforehand introduced its plans to launch USDC for 5 new blockchain ecosystems in September and a sixth chain, Polygon PoS, in October. Native USDC was launched on Polkadot Asset Hub and Layer-1 Blockchain NEAR protocol ecosystem in September.
The stablecoin is now the one with probably the most expansive attain in blockchain networks with 14 of them together with Ethereum, Tron, and Stellar.
Learn Extra: Polkadot Adds USDC Stablecoin To Hub, Leads Race In Supported Blockchain Networks
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