Circle, a leading digital currency company, has launched a new version of its USDC stablecoin on the Arbitrum network. The new native version of USDC is set to replace the Ethereum-bridged version of USDC that has been circulating until now and is expected to provide a range of benefits for users and ecosystem partners.
The native version of USDC is fully reserved and always redeemable 1:1 for US dollars, which makes it a more reliable option for institutional on/off-ramps via Circle and other partners. Additionally, the upcoming Cross Chain Transfer Protocol (CCTP) support will eliminate bridge withdrawal delays, and the upgradeable smart contract will allow for future enhancements by Circle.
Users can transfer USDC between different blockchain networks with greater efficiency and reliability. Currently, users who want to transfer USDC from Ethereum to other networks have to go through a bridge, which…
