2 years ago
Circle’s dollar-backed stablecoin USDC tin present beryllium minted and redeemed crossed Flow, the precocious velocity blockchain level created by non-fungible token (NFT) pioneers Dapper Labs.
Circle antecedently announced a concern with Dapper successful 2020 to alteration USDC arsenic a outgo processor and custodian for Dapper wallet users.
The enactment for USDC crossed the full Flow web expands connected that concern by allowing users to straight mint and redeem USDC connected Flow, enabling easier entree and larger liquidity pools for web users. It besides means developers tin usage Circle’s suite of developer APIs.
“The determination to merchandise USDC successful the travel ecosystem strategy is each astir betting connected wherever the adjacent question of maturation is going to be,” said Dapper Labs co-founder Mik Naayem successful an interview. “And that’s apt user Web 3.”
Dapper Labs, the inventor of Crypto Kitties, the archetypal viral NFT collectibles, oversees a thriving ecosystem connected Flow including NBA Top Shot, NFL All Day, Matrix World, and more.
USDC circulation presently tops immoderate $48 billion, and adding the stablecoin to blockchain ecosystems mostly provides a changeable successful the limb for applications similar decentralized concern (DeFi) and NFTs.
In summation to Flow, Circle present supports USDC natively crossed the Ethereum, Algorand, Solana, Stellar, TRON, Hedera and Avalanche blockchains.
“Flow has emerged arsenic the go-to destination for thriving communities of developers, artists, creators and brands gathering their ain blockchain-based integer media and amusement experiences,” said Jeremy Allaire, CEO and Co-founder of Circle successful a statement.
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Ian Allison is simply a elder newsman astatine CoinDesk.
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