Circle Announces the Stablecoin USDC Is Now Supported by the Polygon Network

Circle, the issuer of the stablecoin usd coin (USDC), announced that the task is present supported connected the Polygon network. The stablecoin with the second-largest marketplace capitalization tin present beryllium withdrawn via a Circle Account and Circle APIs without the request for manual cross-chain span technology.

Circle Reveals Polygon-Supported USDC

Circle has revealed that usd coin (USDC) is present hosted connected the Polygon network and the summation means USDC is present disposable via 9 antithetic blockchain networks. Polygon is simply a ample crypto ecosystem with much than 19,000 decentralized applications (dapps) and 2.7 cardinal monthly progressive wallets arsenic of May 2022.

The caller Polygon USDC is simply a bridged mentation of USDC that is minted erstwhile a autochthonal Ethereum mentation of USDC is bridged. Circle volition enactment the wide utilized Polygon USDC and the plus has been added to Circle Account and Circle APIs. Polygon-supported USDC tin beryllium utilized for trading, borrowing, lending, making and accepting payments, and making programmatic payouts.

“For businesses that privation accelerated and businesslike entree to Polygon USDC, the Circle Account abstracts distant the costly and time-consuming process of bridging USDC from Ethereum to Polygon manually via the Polygon Bridge,” Circle explained connected Tuesday. “Instead, businesses tin present person fiat currency to Polygon USDC successful seconds with the Circle Account, and person backmost to fiat currency the aforesaid way.”

Polygon Network to Benefit USDC Users by Providing ‘Fast and Efficient Transactions’

At the clip of writing, USDC is the second-largest stablecoin plus by marketplace capitalization with $53.9 billion. USDC’s marketplace headdress accrued by 10.8% during the past 30 days and during the past 24 hours, the stablecoin has seen $5.49 cardinal successful planetary commercialized volume.

USDC’s marketplace valuation represents 4.14% of the full crypto economy’s nett value. Circle’s announcement details that users leveraging Polygon USDC volition payment from “fast and businesslike transactions, typically astatine a fraction of the outgo of sending USDC connected the Ethereum network.”

What bash you deliberation astir the stablecoin USDC being supported by Polygon? Let america cognize what you deliberation astir this taxable successful the comments conception below.