Circle launch native support for USDC stablecoin on Avalanche

Digital assets payments provider Circle has implemented native support for its stablecoin offering – USD Coin (USDC) – on the Avalanche blockchain.

The integration will introduce an array of benefits for developers and users of the Avalanche blockchain including more transaction and payment options within Avalanche’s growing ecosystem of DeFi protocols.

The support also extends to Avalanche’s collection of enterprise applications and NFT marketplaces.

In addition, developers on the blockchain can now leverage Circle’s broad suite of APIs – which have been updated to support native USDC on Avalanche – to handle payments, payouts, DeFi access and account infrastructure for businesses.

Support for USDC will be introduced to Avalanche’s C-Chain, which is DeFi-ready and allows for the creation of “Ethereum-compatible” applications and assets that can be traded and accessed with lower fees and faster transaction times.

“Support for USDC on Avalanche comes at an exciting and pivotal moment for the growing, multi-billion dollar DeFi market,” said Jeremy Allaire, CEO and Co-founder of Circle.

“With USDC as the leading dollar digital currency for the decentralised economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto.”

Circle’s support for USDC on Avalanche follows the announcement earlier this year by the Centre Consortium — which governs USDC and was co-found by Coinbase and Circle — that it will expand access to a range of new blockchains that pioneer “greater speed and scalability with less cost”.

The platform currently offers “crypto-based investments” using USDC via Circle Yield and more accessible DeFi for businesses through its ‘DeFi API‘.