USD Coin officially expands to Base and Optimism networks

Circle’s USD Coin (USDC) has launched natively connected some Base and Optimism networks, allowing Circle relationship holders to nonstop USDC stablecoin from their accounts to Base oregon Optimism. Coinbase has besides made USDC transfers to Base available, according to a Sept. 5 societal media post. Circle claimed that it is moving with “ecosystem partners” to make a strategy for users to swap old, bridged versions of USDC for the new, authoritative versions.

— Circle (@circle) September 5, 2023

Coinbase’s Base web launched connected Aug. 9. But astatine launch, Coinbase users could not nonstop USDC to the Base web from their speech accounts, nor could Circle relationship holders. Base users relied connected a bridged mentation of USDC, called “USDbC,” to marque U.S. dollar transactions. On Aug. 29, Circle CEO Jeremy Allaire announced that a autochthonal mentation of USDC would beryllium made available “next week,” but nary circumstantial day was given.

The Sept. 5 announcement states that the coin is present disposable natively connected Base. On the aforesaid day, the Coinbase interface started showing an enactment to transportation USDC to Base.

Despite this authoritative launch, galore decentralized exchanges connected the web proceed to usage the aged mentation of the coin. At the clip of publication, Uniswap, Baseswap, Aerodrome, Maverick, and different DEXs proceed to amusement the aged declaration code erstwhile users prime the stablecoin.

Related: Visa taps into Solana to widen USDC outgo capability

The announcement stated that USDC has besides been launched connected Optimism, providing a replacement for the USDC.e token that was antecedently utilized connected the network. As with Base, Optimism DEXs bash not look to person been integrated with the caller mentation yet.

Circle has been attempting to combat backmost aft its stablecoin lost marketplace stock to Tether (USDT) passim aboriginal 2023, but it besides faces expanding contention aft the motorboat of 2 caller stablecoins during the summer. First Digital USD was launched successful June, and Binance began promoting it successful August. PayPal besides launched its PYUSD stablecoin connected Aug. 7.