Stablecoin USDC Will Soon be Available on 10 Extra Networks

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USD Coin (USDC), a stablecoin pegged to the price of the US dollar developed by the Centre Consortium, could soon expand to 10 more blockchains, CoinDesk reports.

The asset has been available on Ethereum’s ERC-20 blockchain since 2018 and on Algorand, Stellar and Solana since the second half of 2020.

Now, according to a draft announcement from USDC administrator, it might expand to Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks, Tezos and Tron.

If the expansion takes place, the stablecoin, which currently has a $25 billion market cap, would be available on more networks than the USDT (Tether), which is now available on 8 blockchains.

We should remember that the Centre Consortium is run by crypto exchange Coinbase and payments company Circle. According to them, the expansion will “drive individual and enterprise adoption of open blockchain technologies.”