Financial services company Circle announced the launch of USDC on Avalanche. The smart contract platform is thus becoming a global distributor of the second largest stablecoin.
The “Platform of Platforms” has an important interface. As announced by the Fintech Circle responsible for USDC stablecoin in an article on Medium, the introduction of cryptocurrency on Avalanche will accelerate the growth of the DeFi market and will also allow “more developers and users to create and access the Avalanche ecosystem”. The message also did not go unnoticed for the AVAX course.
Avalanche is revolutionizing the DeFi market
Not a sticky stick: With over US $ 40 billion in circulation, the US dollar-pegged cryptocurrency USDC is the second-largest stablecoin after Tether (USDT) and a major driving force in the field of finance. decentralized. Connecting to the multiple Avalanche network creates, according to Circle, “smoother transaction and payment options for developers and participants in Avalanche’s exponentially growing ecosystem of DeFi protocols, business applications and NFT markets.”
Jeremy Allaire, CEO and co-founder of Circle, emphasized the importance of integration for the growth of the DeFi market: “Since USDC is the leading digital dollar currency for the decentralized economy, this integration will be for developers and communities involved in a of the fastest growing organic areas. Ecosystems that want to participate in the crypto economy are of great importance. “USDC is supported by the Avalanche contract chain. The” C-Chain “is the blockchain for smart contracts, through which they are created and They run smart contracts that are compatible with Ethereum.
Avalanche founder Emin Gün Sirer calls the stablecoin connection an important development step towards a global monetary network. “This reinforces Avalanche’s position as the fastest system to send USD to the whole world,” explains the computer science professor. On twitter. Investors, however, did not leave the announcement unacknowledged. At press time, AVAX’s price was trading at $ 91, a 16 percent increase on the day.