KEY ($0.00) TAKEAWAYS
- Circle has launched native USDC ($1.00) on the Aptos blockchain, enhancing liquidity and DeFi growth.
- The integration allows developers and users direct access to USDC without bridging, improving stability and reliability.
- USDC’s availability on Aptos expands use cases for DeFi, payments, and global commerce, with support from platforms like Coinbase.
Circle has announced that USDC is now natively available on the Aptos blockchain, providing developers and users with direct access to the stablecoin without the need for bridging. This development is expected to enhance liquidity and facilitate the growth of decentralized finance (DeFi) applications on the Aptos network.
The integration of USDC on Aptos is supported by Circle Mint and its APIs, which enable financial institutions to easily access USDC liquidity. Aptos, a layer-1 blockchain known for its secure and scalable infrastructure, is poised to benefit from this addition as it continues to expand its DeFi ecosystem.
Understanding Native vs Bridged USDC
In the Aptos ecosystem, there has been a bridged form of USDC known as lzUSDC, which was transferred from Ethereum via the AptosBridge built on LayerZero. Unlike native USDC, lzUSDC is not issued by Circle and cannot be redeemed through Circle Mint. The introduction of native USDC aims to provide a more stable and reliable option for developers and users.
Circle’s decision to bring native USDC to Aptos was influenced by the growth of lzUSDC on the platform, facilitated by bridge providers like Stargate. The Aptos team, along with these providers, will work to transition users from lzUSDC to native USDC over time.
Expanding Use Cases with USDC on Aptos
The availability of USDC on Aptos opens up new possibilities for developers and businesses. Payment fintechs, exchanges, and digital wallets can leverage USDC for various applications, including DeFi, peer-to-peer payments, and global commerce. The stablecoin’s integration is expected to support innovative DeFi projects like Echo Protocol and LiquidSwap.
Additionally, USDC on Aptos will soon be supported on Coinbase, further broadening its accessibility. Qualified financial institutions can apply for a Circle Mint account to convert fiat currency to USDC on Aptos, while small and medium-sized businesses and individuals can access USDC through a network of providers.
For more information on the launch of native USDC on Aptos, visit the official announcement here.
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