Circle, the leading stablecoin issuer, has announced its plan to deploy its native token USD Coin (USDC) on the Arbitrum network.
The Arbitrum Foundation also confirmed this deployment in a recent statement. This strategic decision aims to enhance liquidity and streamline cross-chain transfers, revolutionizing the user experience.
USDC Debut On Arbitrum
Ethereum layer 2 scaling solutions have increasingly gained traction. Apart from Optimism, Arbitrum is a prominent name in the layer 2 landscape. According to DefiLlama, total value locked (TVL) of DeFi protocols on Arbitrum reached $2.3 billion, followed by Optimism and zkSync Era.
The deployment of the native USDC token on Arbitrum is set to take place on June 8, marking a significant milestone for Circle and the stablecoin ecosystem.
By gradually phasing out the existing bridged USDC token version transferred from Ethereum, Circle will ensure a seamless transition for users. The…
