The second-largest stablecoin in the world, USD Coin (USDC), has just gone live on the Polkadot network. Circle, the issuing company, disclosed this new development. Thanks to the XCM protocol, consumers and developers can now enjoy USDC on Polkadot's parachains.
This important change enables the seamless transfer of USDC to Polkadot Asset Hub. Polkadot Asset Hub serves as a focal point for digital assets across the Polkadot network.
However, Circle emphasized a significant user caution. Users must adhere to particular depositing guidelines when funding their Circle accounts. They highlight the significance of cautious transfers under this new system.
With this launch, USDC now fully supports 14 blockchain networks. Due to this accomplishment, USDC now stands above its main rival, USDT. The transfer of information is in line with Circle's ongoing interoperability initiatives.
This groundbreaking expansion not only boosts Circle's interoperability goals, but also opens up more networks to low-cost payments, trading, borrowing, and lending.
