Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
circle usdc

Circle Launches USDC on Flow Blockchain

February 1, 2022
in Bitcoin News, Blockchain News
401 25
0
Share on FacebookShare on Twitter

Circle, the operator of USDC, one of the biggest stablecoins by market cap, has launched USDC as a native asset on top of the Flow blockchain. Flow is a blockchain project made to host NFT and game-based initiatives, aiming for low fees and a high volume of transactions. With this launch, USDC aims to keep expanding its reach to more blockchains, with Flow being the eighth native blockchain where USDC resides.

USDC on Flow

Circle, one of the biggest payments companies in the U.S., has launched one of its prime products — USDC — on Flow, an NFT and Web3 oriented blockchain. Users of the Flow chain will now be able to mint and redeem USDC natively on the platform. This movement aims to make it easier for users of projects in Flow to transfer and leverage value across the decentralized apps (dapps) of the ecosystem.

Jeremy Allaire, CEO of Circle, opined on the importance of Flow and its design, which is thought to be suitable for some new use cases looking for this kind of decentralized structure. In this regard, Allaire stated:

Flow has emerged as the go-to destination for thriving communities of developers, artists, creators and brands building their own blockchain-based digital media and entertainment experiences.

Allaire further explained that, in his view, this new alliance would facilitate payments and help traffic on the network thrive in new and existing projects. Flow, which is a chain launched by Dapper Labs, the creators of Cryptokitties, is home to a series of NFT projects like NBA Top Shots.

Circle’s Tour de Force

The strategy Circle has employed with USDC has achieved significant growth for the currency. The company has been expanding and integrating its stablecoin product natively on several smart contracts-enabled blockchains. This has led to a boom in the market cap of the currency, even beating out its largest competitor, USDT, in terms of Ethereum-based market cap last month.

Flow is the eighth chain on which USDC is present natively. USDC started launching natively as an Ethereum token back in 2018. Now, the currency has a market cap of over $49 billion, being the second most valuable stablecoin project in the market today. USDC is present on chains including Algorand, Solana, Stellar, Tron, Hedera, and Avalanche.

What do you think about the launch of USDC on top of Flow? Tell us in the comments section below.

Source link

You might also like

Microsoft NFT ban

Microsoft NFT ban

August 4, 2022
Blockchain and digitization to take center stage at Davos

Blockchain and digitization to take center stage at Davos

May 20, 2022

Related News

Microsoft NFT ban

Microsoft NFT ban

by Editorial Team
August 4, 2022
0

Microsoft says NFTs and blockchains aren't welcome in Minecraft Microsoft Cites flakiness of NFT community and speculative activity as inimical...

Blockchain and digitization to take center stage at Davos

Blockchain and digitization to take center stage at Davos

by Editorial Team
May 20, 2022
1

The annual meeting of the World Economic Forum (WEF) is scheduled to take place from May 22–26,  marking the first...

qmall crypto license

Crypto License & Payment Gateway Authorized by EU Regulators

by Editorial Team
April 21, 2022
0

It seems there’s hardly a month goes by when we don’t hear at least some exciting news about Ukraine’s QMALL...

FC Barcelona to Get Into Metaverse and NFTs

FC Barcelona to Get Into Metaverse and NFTs

by Editorial Team
March 5, 2022
1

The FC Barcelona, a soccer club with a large fanbase in Spain and Europe, has revealed its plans to take...

Next Post
Thailand crypto capital gains

Thailand scraps 15% crypto capital gains tax following public backlash

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

Crypto Week in Review: Compound (COMP) Leads the DeFi Boom

Crypto Week in Review: Compound (COMP) Leads the DeFi Boom

January 11, 2022
Digital Euro Ripple

Digital Euro Association partners with Ripple

February 11, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.