With a market cap of more than $25 billion, USDC is the world’s fastest-growing stablecoin. Its uses vary across a range of services, including trading, lending, payments, remittances, and DeFi applications. USDC is issued by regulated financial institutions, backed by fully reserved assets, redeemable on a 1:1 basis for US dollars, and governed by Centre, a membership-based consortium that sets technical, policy, and financial standards for stablecoins.
From its inception, Centre has envisioned support for USDC on multiple chains, such as Nervos.
“Bringing USDC to multiple chains enables users to take advantage of the speed, scalability and cost efficiency provided by next generation public chains. USDC on multiple platforms helps grow the internet of value and drive individual and enterprise adoption of open blockchain technologies,” the Centre team said in a recent blog post.
With the addition of USDC to the Nervos ecosystem, users, developers, and teams will be able to take advantage of its fiat-to-blockchain solution. Centre’s open-source and transparent framework allows fiat to interact with smart contracts, giving developers a viable way to use real-world currencies in blockchain applications.
“Stablecoins play a major role in both the Nervos network and the greater blockchain ecosystem, especially when it comes to supporting a variety of DeFi projects,” said Kevin Wang, co-founder of Nervos. “The addition of USDC is an important piece of the puzzle as we continue to build out our Universal Passport toolset and move toward the next generation of interoperability that will empower the creation of Universal Applications.”
Support for USDC comes at an exciting time for the Nervos ecosystem, as we bolster our infrastructure for the emerging DeFi industry and true blockchain interconnectivity. Nervos and Cardano recently began building a cross-chain bridge connecting the networks. Once completed, it will be Cardano’s first cross-chain bridge, potentially unlocking access to billions of dollars in completed transactions and further propelling Nervos and Cardano’s shared vision for blockchain interoperability. Nervos also announced a new integration with Opera that will enable the browser’s hundreds of millions of users to send and receive $CKB directly within the Opera browser and access Nervos dApps listed on the built-in DApps Store.
As we learn more about the timing of the USDC integration, we’ll continue to keep our community updated. Stay tuned!
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