Stablecoin issuer Circle is launching its greenback pegged stablecoin USDC on the Polygon Proof-of-Stake (PoS) chain on October 10.
The implementation of native USDC will profit the Polygon ecosystem with direct institutional on and off ramp companies. It’ll basically substitute bridging the stablecoin with different networks, similar to Ethereum.
In accordance with the announcement from Circle, USDC bridged from Ethereum can be renamed USDC.e into the Polygon ecosystem following the launch.
Furthermore, Circle will droop its account and API assist for bridged USDC on Polygon. Customers are warned to not ship bridged USDC.e to Circle Account after November 10, as it might end in a lack of funds. Circle has additionally requested its clients to regulate API integration to be able to work with native USDC.
When asserting USDC enlargement to 6 new chains in August, Circle additionally unveiled the Cross-Chain Switch Protocol (CCTP) to make USDC interoperable throughout totally different chains.
Circle will deploy the CCTP to Polygon PoS as nicely to allow USDC to maneuver natively from Ethereum and different supported chains inside minutes.
Additionally Learn: Wormhole Allows Native USDC Transfers on 4 Blockchains