USDC Embarks on New Blockchain Journey

USDC has been in the headlines recently due to Coinbase. The cryptocurrency exchange had also recently acquired a stake in USDC. The second-largest stablecoin, USDC, is set to dramatically expand its blockchain integration, deploying on six more networks soon, according to sources.

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USDC reportedly launching on six blockchains

USDC is reportedly launching on Polygon PoS, Base, Polkadot, NEAR, Optimism, and Cosmos via the Noble Network. This is in addition to its existing presence on Ethereum, Avalanche, and other leading chains.

The move could significantly boost the adoption and utility of the second-largest stablecoin. More blockchain access provides easier on-ramps for user funds and opens up integration with DeFi protocols on new networks.

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According to a recent official statement, it has been announced that the center will undergo a change in its status as an independent entity. Circle will continue to act as the issuer of the second-largest stablecoin and assume all center governance and operational duties.

This restructuring aims to optimize operational efficiency and governance while bolstering Circle’s direct responsibility as the USDC issuer. This includes managing smart contract keys, adhering to reserve governance regulations, and facilitating the expansion of USDC to upcoming blockchain platforms.