Circle Rolls out Native USDC Tokens on Polygon Network

Circle now enables direct USDC minting on Polygon to simplifying the transactions. USDC.e support ends Nov 10. Cross-chain transfers coming soon.
Circle Rolls out Native USDC Tokens on Polygon Network

Stablecoin issuer Circle has launched native USD Coin (USDC) minting on Polygon, an Ethereum layer-2 scaling protocol.

The difficulties of connecting USDC from Ethereum to another blockchain are eliminated by this procedure. Users and developers can now directly access USDC on Polygon and take use of its scaling advantages.

Companies and developers can now create decentralized applications using USDC on Polygon, enabling quick and inexpensive transactions for a variety of needs, including payment, transfer, trading, borrowing, and lending. In the past, users were obliged to use the USDC.e. bridge version of the USDC on the Ethereum network. It will be possible to exchange the new Circle offering for US dollars 1:1.

On November 10, the business will stop supporting USDCC.E withdrawals and deposits for Polygon and introduce native Polygon USDC for inexpensive international payment, remittance, and DeFi interaction. By enabling communication between Polygon and other blockchain networks, Circle intends to introduce a cross-chain transfer protocol, enabling the transfer of USDC from Polygon’s blockchain to Ethereum’s.

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