Circle releases USDC as a native asset on Flow Blockchain

USDC is one of the most widely-known stablecoins in the world with staggering reachability. Its operator, Circle has finally launched the stablecoin at a popular blockchain project, Flow.

Flow blockchain is majorly an NFT and Web3 oriented blockchain. With this incorporation, users of the flow blockchain can mint and redeem USDC natively. Moreover, users will find it much easier to transfer and leverage value across dApps.

CEO of Circle, Jeremy Allaire talked about the importance of Flow for new use cases:

“Flow has emerged as the go-to destination for thriving communities of developers, artists, creators, and brands building their own blockchain-based digital media and entertainment experiences.“

Furthermore, he said that this alliance will help in facilitating payments and increase traffic for new/existing projects.

Dapper Labs has developed the Flow blockchain. Moreover, the blockchain is home to two of the most popular NFT projects: Cryptokitties and NBA Top Shots.

With Circle incorporating USDC, it has achieved significant growth for the stablecoin. Besides this, Circle is rapidly focusing on expansion and integration of its stablecoin natively to many other platforms. Due to this, USDC has exploded in terms of market cap. So much for the explosion, USDC recently outperformed USDT in terms of ETH-based market cap last month.

As of now, USDC has a market cap of over $49 billion, with a market cap dominance of 2.68%. Meanwhile, USDT has a total market cap of over $79 billion.

Moreover, besides Flow, USDC is present on Algorand, Solana, Stellar, Tron, Hedera, Avalanche, and most importantly Ethereum. In fact, USDC launched natively as an Ethereum token in 2018.

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