- Circle will soon deploy USDC on Arbitrum.
- Users will be able to redeem USDC 1:1 for USD on Arbitrum.
- Circle also listed other benefits of having natively deployed USDC on Arbitrum.
The current crypto bear market has been brutal to stablecoin issuers, especially those that operate primarily in the U.S.
However, Circle, the issuer of USDC, has continued to innovate. On Thursday, Circle released an exciting announcement about the Ethereum Layer-2 scaling project Arbitrum.
Circle to Deploy USDC on Arbitrum
Circle has been going through a lot lately, especially with the banking crisis in the U.S. and the challenging regulatory climate in the country.
However, Circle isn’t backing down. On Thursday, the company behind the second-largest stablecoin in the market announced that it would natively deploy USDC on Arbitrum, the largest Ethereum Layer-2 scaling project.
