Circle to launch USDC on five more blockchains

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Circle has announced that once USDC is converted to BUSD on the Binance cryptocurrency exchange, the number of blockchains supporting the USD Coin stablecoin will be increased from 8 to 13.

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The USD Coin (USDC) and Euro Coin (EUROC) stablecoin issuer has revealed that it is working on expanding the USD-backed stablecoin on five major blockchains. In particular, Circle plans to launch USDC on Arbitrum, Cosmos, NEAR, Optimism and Polkadot in early 2023.

Circle vice president of product Joao Reginatto said the move will allow users to have “greater liquidity and interoperability” in their transactions. The USDC stablecoin is currently supported by the Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow, and Hedera blockchains.

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Circle has invited the developers supporting these blockchains to start testing the network integration with the Circle API now. Recall that at the beginning of this month, the Binance cryptocurrency exchange streamlined the list of low-liquid stablecoins, including USDC, by converting them to BinanceUSD (BUSD).

Source: Bits

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