Circle Introduces Its USDC Stablecoin Within the Polkadot Asset Hub
Adekunle Joshua
USDC, the second-largest stablecoin, is set to launch on the Polkadot blockchain, expanding its presence across diverse blockchain platforms
Circle has officially announced the arrival of USDC Coin on the Polkadot network. Developers and users can now access Polkadot USDC and transfer it seamlessly to Polkadot parachains using Circle Account and Circle APIs
It's exclusively issued within the Polkadot Asset Hub, designed for issuing, managing, and transferring digital assets within the Polkadot ecosystem
To use Polkadot USDC with Circle Account and Circle APIs, users must first transfer their USDC to an external wallet address within the Polkadot Asset Hub before utilizing the XCM protocol
Important tip for transferring USDC: If you plan to move USDC from the Polkadot Asset Hub to other parachains via XCM, make sure to transfer it back to the Asset Hub via XCM before depositing it into your Circle Account
Circle's mission for interoperability continues! With the addition of Polkadot, USDC is now compatible with 14 different blockchain networks, making it a versatile stablecoin for various blockchain ecosystems
Polkadot's unique structure of independent parachains allows for faster transactions while benefiting from the security and decentralization of the Polkadot ecosystem
USDC's multi-blockchain support now exceeds its rival stablecoin, USDT, which is compatible with 11 networks.