USD Coin Comes to Algorand; Centre Announces Multi-Chain Framework
According to a press release, Circle will add support for USDC on Algorand. The move will enable “customers of Circle Business Accounts and Circle APIs to easily move funds between traditional banks and card networks to digital dollars on the Algorand blockchain.” Algorand will be the first blockchain with a stablecoin implementation powered by a new framework for multi-chain support on USDC that allows other blockchains to leverage the foundation and standards that have been created behind USDC.
Why it matters:
- USDC is the crypto’s second largest stablecoin project, and is rapidly approaching $1 billion issued amidst the recent liquidity mining craze.
- Algorand will be the second blockchain USDC is issued on, joining USDT as a multi-chain stablecoin.
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