Circle launches USDC on the Polkadot Asset Hub parachain

Circle has launched the parachain Asset Hub by Polkadot.

1/ ? The wait is over!

Today, @circle has enabled #USDC, the second largest stablecoin by market cap, on Polkadot!

Now, every parachain in Polkadot’s ecosystem can access USDC natively without the need of a bridge.

Learn more in the ? below ? pictwitter.com/9MHqb3aRD5

— Polkadot (@Polkadot) September 19, 2023

\n“The integration will not only increase liquidity, but also ease institutional access to the ecosystem,” the developers said.

According to them, USDC is ready to be used in other parachains via the XCM protocol.

The Polkadot team also announced the integration of the stablecoin with various ecosystem projects, including Centrifuge, HydraDX and Moonbeam.

USDC is the second-largest stablecoin by market capitalization. Its total market value exceeds $26 billion.

\n

In August, Circle announced the launch of the stablecoin in six new networks, including Base, Cosmos (via Noble), NEAR, Optimism, Polkadot and Polygon.

Earlier it was reported that Circle is deploying $1 billion to bolster its position in the stablecoins segment.