Circle, the company behind the popular dollar-based stablecoin USDC, has announced that it will be launching a native version of USDC on the OP Mainnet. This move is aimed at boosting liquidity and making USDC the official stablecoin within the OP Mainnet ecosystem.
The native USDC will offer several benefits to OP Mainnet users, including being fully reserved and always redeemable on a one-to-one basis for US dollars. Additionally, institutional on/off-ramps will be made available, making it easier for users to access and utilize USDC.
To facilitate the transition to native USDC, the Ethereum-bridged form of USDC on block explorers will be renamed as USDC.e. Outreach will also be made to ecosystem apps to encourage them to update their app UI and documentation to reflect the change.
Circle is excited about the impact that native USDC will have on the Optimism ecosystem. The company is committed to working with ecosystem apps to ensure a smooth transition of liquidity from USDC.e to USDC over time. There will be no immediate changes to the OP Mainnet bridge, which will continue to operate normally.
In addition to the launch of native USDC on OP Mainnet, Circle has also announced that USDC will be added to six new blockchains, including Base, Cosmos via Noble, NEAR, Optimism, Polkadot, and Polygon PoS. This integration will allow developers to easily incorporate USDC for payments and transfers, further increasing its utilization.
Circle already supports USDC natively across several blockchain networks, including Algorand, Arbitrum, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and TRON.
With the potential passage of stablecoin legislation, Circle is well positioned to gain global traction as a reliable proxy for the US dollar. This move aligns with the company’s vision of a digital asset future and its goal of expanding the usability and reach of USDC.
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