US-based stablecoin issuer Circle announced that it will launch USDC transactions on the Celo (CELO) network.
Circle has chosen Celo as the next blockchain for USD Coin. currently Polygon (MATIC), BNB Smart Chain (BSC), Phantom (FTM) USDC will soon be expanded to the Celo network as it is traded on dozens of networks including.
In the press release made by the Celo team on January 30, it was stated that with the integration of USDC, the Celo ecosystem will expand in developing regions. cross border payments And increasing peer-to-peer transactions (P2P) And facilitate conversion from fiat currencies was stated to target.
In addition An EVM-compatible Layer-1 (L1) blockchain Celo, which stands out as Using USDC for transaction fees A community vote will be launched to propose. If this proposal, which will launch shortly, is accepted, all transaction fees on the Celo network will be paid via USDC.
Making a statement on the subject, Circle Business Development Senior Manager Shamus Noonanstated that this step was a critical turning point:
Circle is proud to join the mission-driven Celo ecosystem as a blockchain known for enabling fast, low-cost payments around the world. This partnership will help expand access to USDC and leverage Celo’s mobile-first user base in regions where blockchain adoption is highest.