Financial services firm Circle, the issuer of USDC, has enabled support for the dollar-backed stablecoin on the Flow network, making it the eighth integration for the second-largest stablecoin on a blockchain network. USDC Now on Flow Network Circle announced the news of USDC support on Flow via a press release on Monday (January 31, 2022). According to the statement, Flow network users could now mint and exchange the stablecoin directly on the blockchain. Launched by Dapper Labs, the maker of NFT collectibles Cryptokitties, Flow is a fast, efficient, secure and developer-friendly blockchain. Flow’s multi-role architecture design allows the network to deliver high performance at low cost. The ecosystem also includes NBA Top Shot, Matrix World, BALLERZ, among others. The USDC support on Flow allows users to make and receive payments with the dollar-backed stablecoin. In addition, the integration of USDC into the Flow network will boost the consumer experience and facilitate the growth of the decentralized financial (DeFi) ecosystem. Dapper Labs initially partnered with Circle in September 2020 to include USDC as an additional payment and settlement method for applications built on the Flow blockchain. Meanwhile, the recent press release noted that the latest development expands on the previous partnership, which will see developers also leverage Circle’s suite of developer application programming interfaces (APIs). Commenting on USDC support on Flow, Dapper Labs co-founder and Chief Business Officer Mik Naayem said: “USDC is the most trusted digital dollar currency and by making it available to all developers on Flow, it will remain mainstream. adoption of dApps.” Jeremy Allaire, co-founder and CEO of Circle, also made a statement, saying, “Flow has emerged as the destination for thriving communities of developers, artists, creators and brands creating their own blockchain-based digital media and entertainment experiences. to build. Circle is excited to simplify the checkout process and enable creators and consumers to participate in this thriving ecosystem.” USDC Blockchain Integration Drives Greater Expansion Circle continues to expand use of the USDC stablecoin across multiple blockchains. With a market cap of nearly $50 billion, USDC is the second largest stablecoin after USDT and the fastest growing digital dollar currency. Flow’s latest announcement became the eighth network with USDC support. Others include Avalanche, Algorand, Ethereum, Solana, TRON, Stellar, and Hedera. Circle is also looking at the Asian market and plans to establish a regional headquarters in Singapore. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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