- Ethereum-Polygon Bridge transactions are inconvenient for many users.
- Polygon has grown to include more than 20,000 Dapps.
The US Dollar Coin (USDC), a crypto stablecoin developed by Fintech firm Circle, is now available on the Polygon blockchain. Polygon USDC eliminates the need for users to transfer their USDC from Ethereum’s mainnet to Polygon. Ethereum-Polygon Bridge transactions are inconvenient for many users since they are slower and charge Ethereum mainnet gas costs.
The Circle Account and Circle APIs will now support the widely-used Polygon USDC as of this announcement. The ‘original’ form of USDC on Ethereum is linked to the Polygon network through the Polygon Bridge to generate Polygon USDC, a ‘bridged’ version of USDC.
Following Tethers Footstep
Polygon, which has grown to include more than 20,000 Dapps, is getting USDC from Circle CEO and co-founder Jeremy Allaire. CEO and co-founder Jeremy Allaire of Circle said in a statement how and why the business is introducing USDC to Polygon, which currently has about 20,000 Dapps. Polygon, which has grown to include more than 20,000 Dapps, is getting USDC from Circle CEO and co-founder Jeremy Allaire.
According to Allaire:
“Supporting Polygon USDC in the Circle Account and Circle APIs is another step toward making USDC interoperable across more leading blockchains, helping foster greater adoption for dollar digital currency on the internet.”
A few weeks ago, Tether’s stablecoin, USDT, was introduced to Polygon, and now Circle has added USDC to the mix. A considerable portion of the Web3 user population can now pay in Polygon USDC, and companies may off-ramp to fiat money as needed with Circle Account support for Polygon USDC. It is a significant feature for many developing DeFi, payments, and NFT application use cases because developers working on Circle APIs may more simply automate flows from fiat into Polygon USDC.
