Company
Date Published
Author
Alex Behrens
Word count
426
Language
English
Hacker News points
None

Summary

Circle Internet Financial has announced the availability of USD Coin (USDC) on the Avalanche blockchain, enhancing native USDC liquidity and supporting the expansion of decentralized finance (DeFi) applications without the need for costly token bridges or unsupported wrapped tokens. Since its mainnet launch in September 2020, Avalanche has rapidly grown to support numerous on-chain projects and a large community, boasting a decentralized infrastructure with a vast validator network and compatibility with Ethereum smart contracts. This integration aims to fuel the rapid growth of the Avalanche ecosystem, leveraging its low transaction fees and net-zero carbon output Proof-of-Stake framework, alongside the fast-growing circulation of USDC, which has seen a dramatic increase in both DeFi users and total value locked. With USDC now supported on seven decentralized networks, this development opens up significant opportunities for cross-chain applications, further contributing to the growth and scalability of the Avalanche network.