Circle launches USDC stablecoin on the Avalanche blockchain

Circle, one of the operators of USD Coin (USDC), announced the launch of the stablecoin on the Avalanche blockchain.

The world’s fastest-growing dollar digital currency $USDC is now supported natively on #Avalanche. One of the cornerstones of DeFi, @CirclePay’s USD Coin provides more seamless transaction and payment options for the whole Avalanche ecosystem. https://t.co/OaVme8q4nD

— Avalanche 🔺 (@avalancheavax) December 14, 2021

Circle, one of the operators of USD Coin (USDC), announced the launch of the stablecoin on the Avalanche blockchain.

“Developers will also be able to use Circle’s API suite, updated to support USDC on Avalanche,” the company said.

Ava Labs president John Wu noted that physical fiat currency is gradually becoming a thing of the past, and the COVID-19 pandemic is accelerating the trend.

“The fundamental restructuring of outdated payments and financial infrastructure is not only warranted—it’s long overdue. Avalanche and Circle will be pioneers in addressing these systemic problems,” Wu said.

Avalanche has become the seventh blockchain in the USDC family. The stablecoin already operates on Ethereum, Algorand, Stellar, Solana, Tron and Hedera Hashgraph.

In August, the Circle-Coinbase consortium Centre formed a team to oversee the overseas distribution of stablecoins issued under its standards.

Earlier, Deel, a crypto-friendly remote staffing company, added support for Solana and USDC.

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