- The integration is anticipated to benefit several apps and DeFi protocols.
- This extension brings the total number of supported blockchains for USDC to sixteen.
A leading name in stablecoin issuer, Circle, has announced that USD Coin (USDC) will now be compatible with zkSync, a zero-knowledge layer-2 solution built on Ethereum. Developers will be able to use USDC on a scalable and efficient platform thanks to this announcement, which took place on April 9, 2024.
Moreover, by providing a solid basis for financial services like payments and trading, the integration is anticipated to benefit several apps and DeFi protocols.
Strategic Expansion
Furthermore, this extension brings the total number of supported blockchains for USDC to sixteen, including Ethereum, Arbitrum, Base, Solana, and many more. Also, businesses and developers alike will have access to a powerful tool for application development and expansion with Circle. This effort highlights Circle’s dedication to increasing USDC’s reach and usefulness on several blockchain platforms.
By moving transaction processing away from the Ethereum core layer, zkSync’s solution uses zero-knowledge proofs and rollups to improve transaction speed and decrease costs. The integration with USDC is expected to bring about substantial user efficiency.
Over 180 decentralized apps and 5.7 million unique active wallet addresses in the prior 30 days were part of the zkSync ecosystem, which provided developers and users with a robust and expanding platform, as of the announcement. Users can still buy USDC on zkSync using Circle for $1 USD and trade it for other USDCs on other chains using cross-chain bridges.
Moreover, users across the blockchain spectrum may be certain that this feature will facilitate smooth interoperability and liquidity. The fact that Circle Mint is available to institutional investors further expands the stablecoin’s reach and demonstrates the platform’s versatility.
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