Ethereum

Bank AI

Polkadot

Cosmos

<div class="cryptonews"> 
 <p class="is-style-lead">Circle, the issuer of USDC, said the stablecoin will now be available on six more blockchains and layer-2 <a rel="noopener noreferrer nofollow" title="platforms" href="https://thebittimes.com/tag/platforms.html">platforms</a>, including Base, Cosmos, NEAR Protocol, Optimism, Polkadot, and Polygon.</p> 
 <p>This development comes two days after Coinbase, the crypto exchange, said it had invested in Circle, paving the way for the dissolution of the Centre Consortium.</p> 
 <p>According to a report on Aug. 23, the goal of this expansion is to spur USDC adoption . The stablecoin has steadily lost market share to USDT since March 2023 but remains one of the most liquid coins. </p> 
 <p>In March, Circle revealed that it had over&nbsp;$3 billion in reserves at Silicon Valley Bank (SVB), which collapsed in the largest bank failure since the 2008 financial crisis. Following this news, USDC briefly depeg, allowing capital to shift over to USDT and more liquid coins, mostly Bitcoin and Ethereum.&nbsp;</p> 
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    Top stablecoins by market capitalization |&nbsp;Source: CoinMarketCap 
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 <p>Currently, USDC is available on multiple <a rel="noopener noreferrer nofollow" title="platforms" href="https://thebittimes.com/tag/platforms.html">platforms</a>, including Ethereum and Stellar.</p> 
 <p>In a 2022 press release, Circle&nbsp;said it would add Polkadot, NEAR, Optimism, and Cosmos in 2023.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> PayPal launches USDC competitor, investors bullish on this new project presale in 2023 
 </div> 
 <p>USDC’s main competitor, USDT, is available on&nbsp;14 blockchains.</p> 
 <p>On Aug. 21, Coinbase said it had acquired an equity stake in Circle. Following this move, Centre Consortium, the joint body that managed USDC, would no longer be necessary. </p> 
 <p>Circle and Coinbase will reportedly share USDC’s interest income equally.</p> 
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
  <div class="wp-block-embed__wrapper"> <iframe title="Coinbase takes equity stake in USDC stablecoin issuer Circle: CNBC Crypto World" width="1020" height="574" src="https://www.youtube.com/embed/kYeLKtONKbE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Circle CEO reveals massive USDC adoption outside US 
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USDC to launch on Base, Polkadot and four more platforms

TheBitTimes

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