The second most popular stablecoin USDC goes live on Tron (TRX) blockchain. Tron (TRX) becomes the fifth platform for the stablecoin's heavyweight by Circle.
USD Coin (USDC) goes live on Tron
According to the official announcement by digital payments giant Circle, its major asset, USD Coin (USDC) is now released on its fifth blockchain, Tron (TRX).
TRON USDC is now live across all @circlepay products! For the first time, customers around the world can access #USDC within the #TRON ecosystem via the Circle Account and Circle APIs. Read the blog and learn more about the expansion of USDC ?https://t.co/7XQpsj7SWU— Circle (@circlepay) July 1, 2021
Previously, USD Coins (USDC) were active on Ethereum (ETH), Solana (SOL), Algorand (ALGO), and Stellar Network (XLM).
Jeremy Allaire, CEO and Co-founder of Circle, stresses the importance of Tron (TRX) and its smart contracts for the global stablecoins ecosystem:
TRON has built a very large and highly successful blockchain platform and network, and is one of the most widely used in stablecoin transactions. We’re excited to bring the benefits of a trusted dollar digital currency such as USDC to this growing ecosystem of users and developers
Also, Tron-based mechanisms are seamlessly integrated into Circle's payment account system and the API infrastructure by the top-notch digital assets services vendor.
More blockchains, more liquidity
As such, Tron (TRX) users received one more fiat gateway: Circle Accounts and Circle APis provide dApps developers with on-ramps and off-ramps to top up crypto-to-fiat instruments. Circle's tools work with wire, ACH and card based payments.
As USD Coin (USDC) is the world's fastest-growing stablecoin in terms of market capitalization, Tron's founder Justin Sun is excited by the demand new solution will meet:
I'm thrilled to have support for USDC on TRON because there's unending demand for the world's fastest-growing stablecoin and I cannot wait to see what end users are able to do with USDC
A day earlier, the USD Coin (USDC) team announced that the stablecoin will expand to a number of previously unexplored platforms like Avalanche (AVAX), Celo (CEL), Hedera (HBAR), Nervos (CKB), Polkadot (DOT), Stacks (STAX), and Tezos (XTZ).