One of the USD Coin (USDC) operators, Circle has announced the release of a stablecoin on the Avalanche blockchain.
The world’s fastest-growing dollar digital currency $ USDC is now supported natively on #Avalanche… One of the cornerstones of DeFi, @CirclePay‘s USD Coin provides more seamless transaction and payment options for the whole Avalanche ecosystem. https://t.co/OaVme8q4nD
– Avalanche 🔺 (@avalancheavax) December 14, 2021
Integration is essential for the further development of the decentralized finance sector, according to the statement. The partnership will lower user costs and simplify digital asset transactions.
“Developers will also be able to use the set API from Circle, which has been updated to support USDC on Avalanche, ”the company said.
Ava Labs President John Woo noted that physical fiat currency is gradually becoming a thing of the past, and the COVID-19 pandemic is only accelerating the process.
“A fundamental restructuring of outdated payments and financial infrastructure is not just justified – it is long overdue. Avalanche and Circle will be pioneers in addressing these systemic challenges, ”Wu said.
Avalanche is the seventh blockchain in the USDC family. Stablecoin already operates on Ethereum, Algorand, Stellar, Solana, Tron, and Hedera Hashgraph networks.
In August, the Center consortium formed by Circle and Coinbase formed a team to distribute its standards-based stablecoins overseas.
As a reminder, in December, crypto-friendly remote recruiting company Deel added support for Solana and USDC.
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