Circle Expands USDC To 5 New Blockchains After Being Delisted From Binance
USDC is now out of Binance, but Circle is determined to expand its stablecoin as much as possible, with 5 new blockchains on sight.
Circle is expanding its reach into other blockchains to maintain its influence in the crypto market after Binance and WazirX delisted its stablecoin USDC.
This September 28, Circle Internet Financial, the firm behind USD Coin (USDC) and Euro Coin (EUROC), announced that it is working on expanding into five major blockchains. Specifically, Circle plans to launch its stablecoin on Arbitrum, Cosmos, NEAR, Optimism, and Polkadot in early 2023. Therefore, all developers working on these blockchains can already start testing their integrations with Circle’s APIs.
Circle Wants Greater Liquidity and Interoperability For USDC
Joao Reginatto, VP of Product at Circle, said that as a result of this new initiative, Circle will be able to expand its stablecoin from eight ecosystems to thirteen, allowing its users to have “greater liquidity and interoperability” when carrying out their operations.
As of today, USDC runs on Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow, and Hedera.
Reginatto also noted that the inclusion will open the door for “institutions, exchanges, developers and more” to have a viable option when choosing a stable and reliable bridge between crypto and fiat.