Circle’s stablecoin, USD Coin (USDC), has been launched on the Celo Network with the intention of improving international transfers and direct transactions between individuals. This expansion was announced by the Celo Foundation in January. In a CryptoSlate release dated the 30th, the possible advantages were spotlighted, showing that this growth could smooth out the process for converting between local currencies. “USDC is now part of [Celo’s] stablecoin ecosystem with applications in remittances, savings, lending, distributing aid, peer-to-peer transactions, and international payments,” according to Circle. Importantly, CLabs, a group dedicated to advancing the Celo ecosystem, plans to suggest a community vote that would allow payment of transaction fees in USDC, thereby enhancing the stablecoin’s integration into the system’s features. Isha Varshney, who leads Strategy and Innovation at the Celo Foundation, shared her excitement about the alliance. She underlined the Foundation’s aim to be the lead stablecoin platform, especially considering the increasing attention from institutional investors in Web3. Varshney said, “The Celo ecosystem is eager to integrate more real-world assets on-chain due to our collaboration with Circle and the introduction of USDC on Celo.” Varshney commented… Meanwhile, Circle’s Senior Business Development Manager Shamus Noonan highlighted how the collaboration enhances the reach of USDC and takes advantage of Celo’s focus on mobile users… As a standalone blockchain, Celo is set to evolve into a secondary layer network on top of Ethereum. The ecosystem of the blockchain network boasts in excess of 1,000 initiatives spread across more than 150 nations, with significant collaborators such as Deutsche Telekom, Google Cloud, and Opera. There has been a significant uptick in the amount of USDC in circulation recently. According to information from CryptoSlate, there has been an increase exceeding 2 billion, signifying an 8% growth from the start of the year, culminating in a total of 26.46 billion up to the current moment. This sharp increase signals a rejuvenated trust in the stablecoin from cryptocurrency investors. Analytical company Artemis has reported that the Solana network’s version of the USDC stablecoin played a key role in pushing stablecoin transaction volumes to their greatest heights in more than twelve months. The fortunes of this particular stablecoin have been further uplifted by the optimistic mood sweeping through the market, following the introduction of various spot Bitcoin ETFs and its issuing company’s intention to undertake an IPO, as filed with the U.S. SEC. This article falls under the categories of USDC and Stablecoins. Das ist die neueste.