Fortune reported on which six new blockchains the USDC stablecoin will launch on

Fortune reported on which six new blockchains the USDC stablecoin will launch on

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Author: Robert Strickland (crypto-journalist)
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Fortune reported on which six new blockchains the USDC stablecoin will launch on

Fortune reported which six new blockchains will be used to launch the USDC stablecoin



Circle will gain full control over the issuance and management of the USDC stablecoin after cryptocurrency exchange Coinbase bought a stake in the company

In the next two months, Circle will add support for the USD Coin (USDC) stablecoin across six blockchains, including Base, Cosmos (via Noble's network solution), NEAR, Optimism, Polkadot, and Polygon PoS, for a total of 15 blockchains, Fortune reported.

On August 22, it was reported that cryptocurrency exchange Coinbase would buy a stake in Circle and launch USDC on six new blockchains. It was noted that Circle will gain full control over the issuance and management of the USDC stackcoin.

USDC is the second-largest stablecoin after Tether USD (USDT), with a market capitalization of more than $25.9 billion as of Aug. 22, according to Coinmarketcap.

In August, Coinbase said it would suspend trading of USDT and other stablecoins in Canada. Customers of the cryptocurrency exchange will continue to be able to deposit and withdraw these assets despite the ban on trading USDT, DAI, and RAI stablecoins.

 

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