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Stablecoin-issuer Circle says it’s bringing USDC to the Celo (CELO) blockchain, in response to a brand new press launch from The Celo Basis.
The Celo protocol is an Ethereum Digital Machine (EVM) appropriate blockchain that bills itself as “cellular first,” and is within the means of migrating into changing into a layer-2 answer.
Its native token, CELO, can be utilized for governance, staked for rewards, and used to pay decreased transaction charges.
In response to a brand new announcement revealed 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 the moment the seventh-largest crypto asset by market cap total.
Says Isha Varshney, Head of Technique and Innovation on the Celo Basis,
“As a frontrunner in driving real-world adoption of crypto, the Celo ecosystem is worked up to convey extra RWAs on-chain via our partnership with Circle and the launch of USDC on Celo. We need to be the most effective 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 improvement at Circle says,
“Circle is proud to affix the mission-driven Celo ecosystem as a blockchain that’s identified for offering quick, low-cost funds worldwide. This partnership will assist broaden entry for USDC and leverage Celo’s mobile-first person base in areas the place blockchain adoption is highest.”
CELO is value $0.680 at time of writing, up 1.5% within the final 24 hours.
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