Circle, the fintech company and stablecoin provider, announced today that USDC native is available in the layer 2 rollup zkSync. This makes it easily accessible for developers and users, without the requirement of bridging.
USDC can now be used on 16 different blockchain networks.
The official blog post Circle announced on the 9th of April that it expects a number of prominent ecosystem apps and DeFi protocol to adopt native USDC for zkSync. This will be used in various ways, including payments, borrowing, loans, and trading.
Koi Finance is among them, as it is one of the most prominent zkRollup Defi Platforms built on zkSync Era. Also included are the decentralized exchange SyncSwap, and ZeroLend, a lending protocol.
We’re happy to announce native USDC on zkSync is available to users and developers – there is no need for bridging. Circle Mint APIs and Circle Mint now support USDC in zkSync.”
Circle then went on to emphasize the benefits of using native USDC for financial transactions. As a fully-backed, regulated, and redeemable asset at a 1:1 rate for US Dollars, USDC offers both stability and security.
Second, the native nature of Circle Mint allows for seamless integration with institutional access points, streamlining both processes and institutions.
Its compatibility also allows it to be integrated into applications already in use, providing a simple solution for companies looking to integrate stablecoin functionality into their platforms.
Native Vs. Bridged USDC
Circle’s native USDC is redeemable 1:1 for US Dollars. There’s also another variant called USDC.e, on zkSync. This is USDC that has been transferred to Ethereum via a bridge. This bridged USDC isn’t issued by the firm.
Circle announced the USDC integration into the ecosystem a few weeks ago.
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