Circle has released a USDC stablecoin based on the Asset Hub parachain from Polkadot.
1/ 🚨 The wait is over!
Now, every parachain in Polkadot’s ecosystem can access USDC natively without the need of a bridge.
Learn more in the 🧵 below 👇 pic.twitter.com/9MHqb3aRD5
— Polkadot (@Polkadot) September 19, 2023
“Integration will not only increase liquidity, but also facilitate institutional access to the ecosystem,” the developers shared their optimism.
According to them, USDC is ready to be used on other parachains via the XCM protocol.
The Polkadot team also announced the integration of the stablecoin with various ecosystem projects, including Centrifuge, HydraDX and Moonbeam.
USDC is the second largest stablecoin in the segment by capitalization. Its total market value exceeds $26 billion.
Recall that in August, Circle announced the launch of a stablecoin on six new networks, including Base, Cosmos (via Noble), NEAR, Optimism, Polkadot and Polygon.
Earlier it became known that Circle will use $1 billion to strengthen its position in the “stable coin” segment.
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