Arbitrum

In a move towards harnessing the Layer 2 ecosystem, Circle, the leading stablecoin issuer, is setting the stage for the <a href="https://arbitrumfoundation.medium.com/usdc-to-come-natively-to-arbitrum-f751a30e3d83" rel="noopener noreferrer nofollow">native launch</a> of the popular stablecoin USDC on Arbitrum. The stablecoin will go live on the layer 2 network on June 8, 2023. The move is a part of Circle&#39;s proactive approach to optimizing USDC&#39;s interoperability on Layer 2 solutions, particularly on the <a href="https://cryptotale.org/bsc-and-arbitrum-lost-over-6-3m-after-dei-stablecoin-hack/" rel="noopener noreferrer nofollow">Arbitrum platform</a>, an Ethereum Layer 2 scaling solution.As part of this initiative, USDC issued by Circle would become the standard version within the Arbitrum ecosystem. It woild gradually displace the presently circulating &#34;bridged USDC,&#34; which is sourced from Ethereum. The transition is anticipated to lead to an increase in native USDC liquidity over time, marking a new chapter in the transactional dynamics of USDC on the platform​.Circle has highlighted multiple benefits of this transition for end-users. For instance, native USDC wouldbe <a href="https://cryptotale.org/circle-amends-its-usdc-reserves-to-support-short-term-us-treasurys/" rel="noopener noreferrer nofollow">fully reserved</a>, offering a 1:1 redemption rate with US dollars. The move would also facilitate institutional on and off-ramps through Circle and its partners, thereby broadening access to the platform for larger market players. Notably, native USDC would support upcoming features designed to eliminate bridge withdrawal delays, enhancing transactional efficiency on the platform​​.Read full article at <a href="https://cryptotale.org/circle-launches-usdc-on-arbitrum-goes-live-soon/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Circle Launches USDC on Arbitrum: Goes Live Soon

CryptoTale

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