Fintech Company Circle Is Adding Its Crypto stablecoinUS dollar coin (USDC), To polygon Blockchain.
With Polygon USDC, users will not need to bridge their USDC EthereumMainnet of polygons. The Ethereum-Polygon bridge is cumbersome for many as it is slow compared to typical ETH transactions and affects the Ethereum mainnet gas fee,
Circle CEO and co-founder Jeremy Allaire shared his reasoning in a statement about why the company is adding USDC to Polygon, which is now roughly 20,000 dapps,
“Supporting Polygon USDC in Circle Account and Circle API is another step towards making USDC interoperable across more major blockchains, helping drive greater adoption of the dollar digital currency on the Internet,” Allaire said.
While Polygon—native USDC may be new, USDC is not—$110 million was poured into its creation by venture capitalists in 2018.
Today, USDC exists as a multi chain Stablecoin It can be used on Ethereum’s Mainnet, Algorand, Solana, Stellar, Avalanche, Flow, Tron, Hedera and now Polygon.
Anthony Martin, Enterprise Lead for Polygon Technology, explains decrypt In an interview that he believes Polygon USDC will help Polygon’s fiat onRamp and smooth user experience. It will also be integrated for automatic payments.
“In the medium/long term, we see this option as a very good move for international trade, for remittances to different countries,” Martin said.
Circle’s Joining USDC Comes Shortly tie rope In May, Polygon added its stablecoin, USDT.
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