The stablecoin USDC has been launched on the Hedera Hashgraph blockchain, which will allow more widespread use of this token at the corporate level.
Shayne Higdon, CEO of the HBAR Foundation, described the USDC stablecoin as an essential element for making payments in the field of Decentralized Finance (DeFi) and NFT. In a conversation with Coindesk Higdon
saidthat the fund recently pledged $ 2.5 billion in HBAR to support DeFi developers.
As stated by Higdon, in addition to opening up new opportunities in the DeFi sector, the emergence of USDC on the Hedera blockchain will spark the interest of corporate users launching nodes on the Hedera Hashgraph. So, the Governing Council of Hedera includes Google, IBM, Boeing and Deutsche Telekom. Therefore, the use of the USDC stablecoin on platforms that use blockchain to ensure security and traceability of supply chains is not excluded, Higdon explained.
“Users can now transact USDC using the Hedera blockchain. Moreover, they will have significant advantages over other networks: high performance and speed of transactions, as well as efficient use of energy resources, ”said Higdon.
USDC is currently available on Ethereum, Algorand, Solana, Stellar and Tron blockchains. It was also planned to make USDC available on the Avalanche, Celo, Flow, Kava, Nervos, Polkadot, Stacks and Tezos blockchains. However, Joao Reginatto, vice president of product development at Circle, noted that launching USDC on Hedera Hashgraph was one of the company’s top priorities. According to him, Hedera will allow more widespread use of USDC at the corporate level.
Recall that in July, Circle first published detailed information on USDC reserves. It found that 61% of the backing of a stablecoin was in cash and cash equivalents.