Circle announced on June 1 that it will launch a native version of its USD Coin (USDC) stablecoin on the Arbitrum network on June 8. The new version of USDC will be “native to Arbitrum” and added that this asset will be considered Arbitrum’s official version of USDC, according to Circle.
The launch of native USDC on Arbitrum is a major development for the stablecoin ecosystem. Arbitrum is a Layer 2 scaling solution for Ethereum, which means that it can process transactions much faster and cheaper than Ethereum itself. This makes it a more attractive platform for DeFi applications, which are often hampered by high fees on Ethereum.
The launch of native USDC on Arbitrum will make it easier for users to participate in DeFi applications on the network. It will also make it easier for developers to build DeFi applications on Arbitrum, as they will no longer need to worry about integrating with a third-party stablecoin.
The launch of native USDC on Arbitrum is a positive development for the entire crypto ecosystem. It makes DeFi more accessible to users, and it makes it easier for developers to build DeFi applications. This could lead to increased adoption of DeFi, which could have a positive impact on the price of cryptocurrencies.
Source:
https://arbitrumfoundation.medium.com/usdc-to-come-natively-to-arbitrum-f751a30e3d83
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