USDC stablecoin launched on the Solana blockchain

The USD Coin (USDC) stablecoin, developed by the Centre consortium, has been launched on the Solana blockchain.

“Solana is optimised for low-cost, fast and scalable blockchain infrastructure. One thing was missing: a stable unit of account. With the addition of USDC, anyone who wishes will have the opportunity to create fast, unparalleled composable DeFi applications,” said Circle CEO Jeremy Allaire.

1/8 Super stoked to announce the launch and immediate availability of USDC for Solana (@solana). This is part of our continued commitment to driving the growth and adoption of USDC as a broadly adopted standard for digital dollars on the internet. https://t.co/plzFfvbkbO

— Jeremy Allaire (@jerallaire) October 21, 2020

The issuer of USDC, Circle, also announced partnerships with Alameda Research, the FTX derivatives exchange, and the DeFi project Serum. Under this framework, USDC on the Solana blockchain is already available to users of these services.

In the Centre Consortium blog, it is noted that Solana’s throughput reaches up to 50,000 TPS, and block creation and finalisation take just 400 ms.

USDC also operates on the Ethereum and Algorand blockchains. In the first quarter of 2021, the stablecoin will launch on the Stellar blockchain.

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