Circle Launches USDC on World Chain Network

Circle, the company behind the second most popular stablecoin USDC, has launched the asset on Sam Altman’s World project network.

Project representatives stated that around two million users of the World App wallet already possessed the “bridged” version of USDC, which has now been upgraded to a native version.

The company has also deployed the Cross-Chain Transfer Protocol (CCTP) on the network. According to the World team, this will make USDC transfers between blockchains faster and cheaper. 

The initiative will allow developers and users to “fully leverage the composability advantages of DeFi.”

Payment gateways through the Circle Mint platform will become available for institutional clients.

In the future, the issuer also plans to add support for the EURC stablecoin, pegged to the euro, on the World Chain network. The company stated that this will provide users from different countries with more financial opportunities.

In May, the blockchain project began operations in six American cities, including Miami, Austin, and San Francisco. To finance its expansion in the US, World raised $135 million from Andreessen Horowitz and Bain Capital Crypto.

At the time of writing, the native token WLD is trading at $1.09 (-4.8% over the day), according to CoinGecko.

The market capitalization of USDC exceeds $60 billion.

Back in June, Circle’s shares were listed on the NYSE under the ticker CRCL. On the first day of trading, the securities rose by 168% — from $31 to $82.