25.06.2020
Lena Dzhess
Center Consortium, managingStablecoin ecosystem, USD Coin (USDC), announced the launch of multi-coin support for the coin. Earlier, USDC was issued only on the Ethereum blockchain.
</p>The first to integrate USDC will be the Algorand blockchain. The Center explains this choice because the project is optimized for large financial applications.
For the exchange between ERC-20 USDC tokens and coins based on Algorand, a special bridge token will be used. USDC based on Algorand will be provided with fiat reserves.
"Financial institutions to createdecentralized financial applications need a suitable infrastructure and a compatible, regulated and generally accepted stable coin, ”commented Alfrand Foundation Chief Executive Officer Fanfan Chen.
Center invited interested blockchain projects for cooperation, but did not disclose any additional partnership agreements.
Stablecoin USDC is an important part of the Ethereum ecosystem. In March 2020, members of the Maker Foundation approved its use as collateral in the MakerDAO DeFi platform.
Recall that in October 2018 Circle Circle, the stablecoin issuer of the USDC company, and the American cryptocurrency exchange Coinbase merged into the Center consortium to develop the coin.
The company was first announced to expand the consortium in June 2019.
In April 2020, Circle CEO Jeremy Allair announced the explosive growth of traditional business interest in the stablecoin USDC amid the spread of coronavirus.
