Stablecoin-issuer Circle says it’s bringing USDC to the Celo (CELO) blockchain, in accordance 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 “cellular first,” and is within the means of migrating into changing into a layer-2 resolution.
Its native token, CELO, can be utilized for governance, staked for rewards, and used to pay decreased transaction charges.
In accordance with a brand new announcement printed 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 at present the seventh-largest crypto asset by market cap total.
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 worked up to deliver extra RWAs on-chain by way of our partnership with Circle and the launch of USDC on Celo. We need to be one of the best ecosystem for stablecoins, which has confirmed to be among the many trade’s prevailing use circumstances, as institutional traders 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 recognized 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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