Circle, the developer of the USDC stablecoin, is set to introduce a native version of its token on the Arbitrum network. The move aims to enhance transaction speeds and improve interoperability within the blockchain ecosystem. Circle has scheduled the launch of the new native version of USD Coin for June 8.
Transitioning to a Native USDC on Arbitrum
In an official blog post, Circle outlined its plan to replace the existing version of USD Coin, which is currently an Ethereum-based token bridged to Arbitrum.
The new native token will operate directly on the Arbitrum network and will become the official version of USDC within the Arbitrum ecosystem. This transition will eventually phase out the bridged version of USDC originating from Ethereum.
Circle’s adoption of the Arbitrum network aims to expedite transactions through the utilization of cross-chain transfer protocols (CCTPs). These protocols…
