Ethereum

Prisma Finance

2024

USDC

zkSync

<p class="is-style-lead">Circle has announced the integration of its USDC stablecoin natively into the zkSync ecosystem.</p>
<p>The integration marks a progressive step in enhancing liquidity and usability within <a href="https://crypto.news/tag/zksync/" data-type="link" data-id="https://crypto.news/tag/zksync/" rel="noopener noreferrer nofollow">zkSync</a>, a layer 2 scaling solution for Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) that leverages zero-knowledge proofs for increased efficiency and reduced costs.</p>
<p>According to the latest <a href="https://www.circle.com/blog/what-you-need-to-know-native-usdc-on-zksync" target="_blank" rel="noopener noreferrer nofollow">blog post</a> from Circle, “The forthcoming native USDC on zkSync is set to usher in a new era of seamless transactions and integration capabilities for developers and institutional users alike. USDC, issued by Circle, will be native to zkSync and is the official form of USDC for the zkSync ecosystem.”</p>
<p>The transition to native support is anticipated to gradually shift the current liquidity from the bridged USDC —originally from Ethereum and moved to zkSync via the zkSync Era Bridge — to the new native format.</p>
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   <p lang="en" dir="ltr">1/ Drumroll… native <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDC</a> is coming soon to <a href="https://twitter.com/zksync?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@zkSync</a>!<br><br>zkSync is a leading Layer 2 blockchain that is hyperscaling Ethereum through zero-knowledge tech and built-in account abstraction.<br><br>Explore what native USDC will mean for zkSync and how to migrate from bridged USDC.… <a href="https://t.co/Y2ROVS4Hba" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Y2ROVS4Hba</a></p>— Circle (@circle) <a href="https://twitter.com/circle/status/1773335872332767247?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 28, 2024</a>
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<p>You might also like: <a href="https://crypto.news/prisma-finance-hack-stablecoin/" rel="noopener noreferrer nofollow"> Stablecoin protocol Prisma Finance hacked for over $11m </a></p>
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   <p lang="en" dir="ltr">USDC has been the leading entity on <a href="https://twitter.com/zksync?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@zksync</a> in the past, as per our Macro Dashboard<br><br>Cheap, fast, and secure transactions – no wonder demand is high<a href="https://t.co/lMCbWQzkio" target="_blank" rel="noopener noreferrer nofollow">https://t.co/lMCbWQzkio</a> <a href="https://t.co/B3n7xTtJSB" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/B3n7xTtJSB</a></p>— Nansen 🧭 (@nansen_ai) <a href="https://twitter.com/nansen_ai/status/1773344203088752875?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 28, 2024</a>
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<p>The inherent benefits of native USDC on zkSync include its status as a regulated, fully reserved <a href="https://crypto.news/tag/stablecoin/" data-type="link" data-id="https://crypto.news/tag/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a> that is always redeemable 1:1 for U.S. dollars. Additionally, it will facilitate institutional on- and off-ramps like Circle Mint for eligible users and ensure easy integration into existing decentralized applications (<a href="https://crypto.news/tag/decentralized-applications/" data-type="link" data-id="https://crypto.news/tag/decentralized-applications/" rel="noopener noreferrer nofollow">dApps</a>).</p>
<p>The blog explains that “Ahead of the launch of native USDC, the Ethereum-bridged form of USDC on block explorers like zkSync Era Block Explorer will be renamed USDC.e” to distinguish between the upcoming native USDC and its predecessor.</p>
<p>Circle recently <a href="https://crypto.news/circle-solana-usdc-interoperability/" data-type="link" data-id="https://crypto.news/circle-solana-usdc-interoperability/" rel="noopener noreferrer nofollow">partnered</a> with Solana to bring USDC and its cross-chain transfer protocol to its blockchain ecosystem.</p>
<p>Read more: <a href="https://crypto.news/investors-withdraw-350m-worth-of-eth-usdt-usdc-from-kucoin/" rel="noopener noreferrer nofollow"> Investors withdraw $350m worth of ETH, USDT, USDC from KuCoin </a></p>

Circle integrates native USDC into zkSync ecosystem

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