Stablecoin-issuer Circle says it’s bringing USDC to the Celo (CELO) blockchain, in line with a brand new press launch from The Celo Basis.
The Celo protocol is an Ethereum Digital Machine (EVM) suitable blockchain that payments itself as “cell first,” and is within the strategy of migrating into turning into a layer-2 resolution.
Its native token, CELO, can be utilized for governance, staked for rewards, and used to pay lowered transaction charges.
In keeping with a brand new announcement revealed by The Celo Basis, USDC will launch natively on Celo.
USDC is the second-largest US-dollar pegged stablecoin by market cap, behind solely USDT, issued by Tether. USDC is presently the seventh-largest crypto asset by market cap general.
Says Isha Varshney, Head of Technique and Innovation on the Celo Basis,
“As a pacesetter in driving real-world adoption of crypto, the Celo ecosystem is happy to deliver extra RWAs on-chain via our partnership with Circle and the launch of USDC on Celo. We need to be the most effective ecosystem for stablecoins, which has confirmed to be among the many business’s prevailing use instances, as institutional buyers come into Web3.”
Shamus Noonan, senior supervisor, enterprise growth at Circle says,
“Circle is proud to affix the mission-driven Celo ecosystem as a blockchain that’s identified for offering quick, low-cost funds worldwide. This partnership will assist broaden entry for USDC and leverage Celo’s mobile-first consumer base in areas the place blockchain adoption is highest.”
CELO is price $0.680 at time of writing, up 1.5% within the final 24 hours.
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