Popular stablecoin issuer Circle announced that it will be extending support for its USD Coin (USDC) on the Hedera blockchain, making it the first such token to launch on the network.
USDC Now Supported on Hedera
Announcing the move in a press release today, the firm said users can now deposit, withdraw, and transfer USDC based on the Hedera network within their Circle accounts.
Users can also tap Hedera for various USDC payments and settlements, the company noted.
Commenting on the development, Jeremy Allaire, CEO and co-founder of Circle, said the launch of the USDC stablecoin on the Hedera network will make it possible for crypto enthusiasts to gain access to opportunities associated with dollar digital currencies.
“With Hedera, enterprises and financial institutions can access deep liquidity across countries and platforms, making USDC in Hedera an optimal asset for cross-border transactions and trades of all kinds,” he added.
Furthermore, Circle said its integration with Hedera
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