Circlethe issuer of stable coin American dollar (USDC)announced that the project is now network compatible polygon. With the addition of polygon USDCusers will no longer need to link their Ethereum mainnet stablecoins to polygon.
Circle bring your stable coin USDC to the block chain polygon.
Circle found what USD Corner (USDC) is now hosted on the net polygon. Therefore, theUSDC is now available on 9 blockchain networks different.
Also, polygon it is a vast crypto ecosystem. It has more than 19,000 decentralized applications (dapps) and 2.7 million monthly active wallets in May 2022. Therefore, adding polygon USDC native will allow merchants instantly convert your fiduciary deposits into USDC. This is one of the main requirements for applications. NFT and the use case of Challenge.
For the average user, connect theUSDC ofEthereal a polygon it is tedious and technically difficult. Also, it is slower than transactions. ETH typical and also incurs main line gas charges Ethereal.
The development also polygon USDC the first covered version USDC platform support Circle. It will also allow companies and developersaccept instant payments on polygon USDC using the payment and cash platform of Circle.
Also Read: Checkout.com Offers Permanent Settlement by Allowing Payments in Stablecoins.
the rise ofUSDC in the industry crypto
As a reminder, the stable coin USDC of Circle went public in 2018. With a market capitalization of $53.8 billion, is now the second largest stablecoin. To date, theUSDC also acted as stable coin multichannel In addition, theUSDC is available for popular blockchain networks likeEthereal, Stellar, Algorand, Stellar and many others.
sandeep nailco-founder of Polygon, said: “We are excited to see one of the fastest growing digital dollar currencies in the space become available in polygon. polygon USDC will allow businesses and exchanges in our ecosystem to further expand the community Challengeproviding its growing user base with a smooth and profitable experience.
Throughout 2022, ME’USDC continues to increase its market share while theUSDT of Tie declines Circle issued nearly $12 billion in new stablecoins USDC until 2022.
Bonus: Paypal now allows the transfer of cryptos to external exchanges and wallets.