In a significant move within the crypto realm, Circle, the company behind USD Coin (USDC), said it will extend support for its stablecoin to six more blockchains in the next two months.
Based on a joint release by Coinbase and Circle, USDC, already available on nine blockchains, including Ethereum, Arbitrum, Avalanche, Stellar, Tron, Flow, Algorand, Hedera and Solana, will be rolled out on additional chains.
While the release does not mention names, earlier reports from Circle suggest that Base, NEAR, Optimism, Polkadot, Polygon PoS, and Cosmos will be the new integrations between September and October. Consequently, USDC will be supported on at least 15 blockchains.
USDC was designed to maintain a 1-to-1 peg with the US Dollar. Albeit being the second largest stablecoin, it has seen a reduction in market share to Tether. The shifts were fueled by fears associated with USD reserves on the failed Silicon Valley Bank.
The integration of six new blockchains will be a major step in the gro
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