Benzinga - FinTech company and issuer of USD Coin (CRYPTO: USDC), Circle introduced the native stablecoin liquidity access on the Layer-1 Blockchain NEAR (CRYPTO: NEAR) protocol ecosystem. Circle has officially issued Native USDC and is always redeemable 1:1 for U.S. dollars.
A high-performance blockchain, NEAR Protocol highlights frictionless user onboarding and a unique scaling solution that is built on sharding technology to deliver low-cost transactions that can settle in seconds.
The news comes on the heels of Coinbase purchasing a stake in Circle to reshape the governance and financial dynamics of USDC.
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Read More: Coinbase Acquires Equity Stake In Circle: A New Era For USDC
Who Can Use It And For What?
Circle Account and Circle APIs can be used by exchanges, digital wallets, institutional traders, and developers to gain access to USDC NEAR. It can be for various use cases which include 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.
Until now, users could access USDC only through a Bridged USDC (USDC.e), a version of USDC bridged from the Ethereum network.
USDC Accessible From Everywhere
In its spree of expanding partnerships and integrations, in August last week, Circle partnered with Mercado Libre to introduce the USD Coin stablecoin to Mercado Pago to assist Latin American digital payments. Also, very recently Circle launched a native version of USDC on Coinbase’s Layer 2 Base network, replacing its existing bridged version from Ethereum. It was also launched on the Optimism network. Lastly, Circle’s Native USDC is now accessible on Noble.
Circle also plans to launch USDC on other blockchains, with the Polygon PoS launch scheduled for October.
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