Circle Internet Financial, the sole overseer of the USDC stablecoin, is reportedly gearing up to unveil the stablecoin's integration onto six additional blockchains.
USDC Is Expanding To Six New Blockchains
Circle Internet Financial, the sole overseer of the USDC stablecoin, is reportedly gearing up to unveil the stablecoin's integration onto six additional blockchains.
This expansion encompasses Polygon PoS, Base, Polkadot, NEAR, Optimism, and Cosmos through the Noble network, according to an informed source.
Earlier this week, Circle and Coinbase announced a significant restructuring of their involvement with USDC. This included dissolving the Centre Consortium, responsible for USDC governance since its establishment in 2018, and Coinbase securing a stake in Circle.
Blockchains like Ethereum, Avalanche, Arbitrum, Stellar, Algorand, Tron, Flow, Solana, and Hedera have already made USDC usable. The stablecoin's acceptance rate is expected to increase as a result of the move to expand its reach to new blockchains.
Despite this move, USDC has been witnessing a decline in its market share while Tether, the world's largest stablecoin, has been solidifying its dominance. Additionally, PayPal, the Silicon Valley payments giant, has introduced its own stablecoin.
