Circle introduces bridged USDC standard to expand stablecoin utility
The standard is a tool developed by Circle to bootstrap USDC deployment across multiple blockchains with a view to keeping up with emerging L1 and L2 networks. Digital payment provider Circle announced its bridged standard for USD Coin (USDC) in a move the company says will support “cold starts” on new blockchains and expand liquidity for crypto’s second-largest stablecoin by market cap. The solution dubbed “Bridged USDC Standard” is needed to tackle fragmented liquidation while staying apace with the rise of new high-performance L1 blockchains, and scaling solutions built on L2 and L3 rollups, according to a Nov. 21 Circle statement. Introducing Bridged USDC Standard, a new way to expand access to $USDC & reduce fragmentation. EVM blockchain & rollup teams can now deploy a bridged USDC token contract with optionality for Circle to seamlessly upgrade to native issuance in the future.https://t.co/suSgllMQoQ — Circle (@circle) November 21, 2023 Yo...