Home Coins Tether (UDST) Solana becomes fourth blockchain to support USDC

Solana becomes fourth blockchain to support USDC

- Advertisement -


Solana — the blockchain behind decentralized exchange Serum — will now support stablecoin USDC, according to an announcement by Circle. 

Launched by Centre, a consortium made up of Circle and Coinbase, USDC is the second-largest stablecoin by total supply behind Tether’s USDT. In total, USDC’s supply stands at $2.7 billion, according to data from The Block.

Circle also announced today that it will partner with Alameda Research to support Solana USDC on its electronic over-the-counter trading market. It will also be available for deposits and withdrawals on sister firm FTX and compatible with DEX Serum. 

In recent months, Centre has prioritized expanding the number of blockchains that support the stablecoin, which initially launched on Ethereum. In September, Centre announced the addition of Algorand and Stellar. 

In an interview with The Block, Circle CEO Jeremy Allaire noted that each blockchain brings something unique to the table that can help further boost the growth of USDC in various markets. For instance, Stellar support, which is coming next year, could help USDC become more relevant in the remittance market, he said. 

As for Solana, Allaire said that it could make USDC a more favorable choice among crypto’s high-speed traders. 

“These are people who do cutting edge electronic markets work,” he said in a phone interview. “This moves at 300 milliseconds and costs a fraction of a penny. That’s what you want. That’s what is really important. And that’s why I am so compelled by what Alameda and FTX are thinking about. And what Solana is thinking about.” 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
472FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,557FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.21
GBP
1.33
CHF
1.12
NOK
0.11
JPY
0.01
CAD
0.77
AUD
0.74

Most Popular

Visa partners with Circle to let card issuers integrate USDC payment capability

Visa announced a partnership today with Circle Internet Financial — one of the firms behind Ethereum-based stablecoin U.S. Dollar Coin (USDC) — to...

Ethereum Scalability Solutions, Connext and Stakenet | XSN Research | by Shahab Behzadi | Stakenet (XSN) | Dec, 2020

There have been many attempts at upgrading blockchain infrastructure, with the very first one being Lightning Network, which is arguably as old as...
bitcoin
Bitcoin (BTC) $ 19,023.65
ethereum
Ethereum (ETH) $ 591.81
ripple
XRP (XRP) $ 0.615841
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 291.52
bitcoin-cash-sv
Bitcoin SV (BSV) $ 168.51
litecoin
Litecoin (LTC) $ 86.62
eos
EOS (EOS) $ 3.03
binancecoin
Binance Coin (BNB) $ 30.27
okb
OKB (OKB) $ 5.37
tezos
Tezos (XTZ) $ 2.40
leo-token
LEO Token (LEO) $ 1.38
cardano
Cardano (ADA) $ 0.155389
monero
Monero (XMR) $ 126.75
stellar
Stellar (XLM) $ 0.182702
chainlink
Chainlink (LINK) $ 13.83
huobi-token
Huobi Token (HT) $ 4.01
tron
TRON (TRX) $ 0.031125
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 107.73
neo
NEO (NEO) $ 18.04
iota
IOTA (MIOTA) $ 0.339245
nem
NEM (XEM) $ 0.194176
zcash
Zcash (ZEC) $ 75.18
maker
Maker (MKR) $ 563.24
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 6.23
vechain
VeChain (VET) $ 0.016158
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 4.45
kucoin-shares
KuCoin Shares (KCS) $ 0.844132
waves
Waves (WAVES) $ 7.21