Circle Launches Native USDC On NEAR Protocol

Financial technology company Circle, the issuer of USD Coin (USDC), announced the native stablecoin liquidity access on the NEAR protocol ecosystem. The USDC NEAR access can be gained from Circle Account and Circle APIs, the company announced on Wednesday.

Also Read: US PPI Comes In Hotter Than Expected, But Crypto Market Remains Steady

Native USDC On NEAR

The NEAR USDC pairing can be accessed through Circle Account and Circle APIs for various use cases including low cost payments and remittances globally, 24/7 trading, borrowing and lending, and enabling users to hold savings in digital dollars without a bank account. Circle revealed the announcement in a statement:

“We are announcing that USDC is now available natively on NEAR and accessible from Circle Account and Circle APIs. Developers can now take advantage of the speed and scalability of the NEAR blockchain to build fast, user friendly apps with USDC.”

The new access addition comes after Circle gaining a massive stranglehold in the US crypto ecosystem with crypto exchange Coinbase purchasing a stake in the company. This could go on to be a key partnership as regulators could favor it as both are United States based companies. Earlier, CoinGape reported that on June 1, 2023, a similar announcement was made on introducing USDC natively on the Arbitrum Layer 2 network.

Also Read: Polygon Releases Proposals On Ambitious Ethereum Scaling And POL Token

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Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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