Center for expanding the USDC to ten additional blockchains; Starts on Tron – Bitcoin News

Center, the consortium behind the issue of USD Coin (USDC), announced that it will launch the popular asset on 10 more blockchains. This would expand the reach of USDC to other environments and could make it more popular as a trading and staking currency. While Center only recently made the announcement, USDC was launched surprisingly today on Tron.

Center launches Multichain USDC initiative

Center, the consortium behind USDC, the second largest stablecoin by market share, announced an initiative to bring the coin into ten new blockchains. The aim of this plan is to expand the market reach of USDC. This would also allow the users of the coin to take advantage of the unique advantages of various blockchains applied to USDC.

USDC was first introduced as an Ethereum-based token in September 2018. But the situation on the Ethereum blockchain was completely different back then. Ethereum was characterized by low fees and enabled cheap transactions. Now the transaction fees for Ethereum are more expensive, and Centre’s expansion policy is aimed at solving that problem.

USDC was launched on three new chains last year: Algorand, Stellar and Solana. But major exchanges haven’t put solid support in place for either of these implementations. However, now Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks, Tezos and Tron will have a native implementation of the currency. Center did not offer a clear timetable for the introduction of these enhancements.

USDC starts natively on Tron

Although no schedule was offered for these promotions, Circle announced the launch of USDC as a native Tron token earlier today. With this introduction, the two largest stablecoins in terms of market share are now present in the Tron network. Jeremy Allaire, CEO of Circle, said:

TRON has built a very large and very successful blockchain platform and network and is one of the most widely used in stablecoin transactions.

Tron has established itself as the most popular platform for cheap stablecoin transactions. Most of the USDT offering is now being issued on the Tron network, outperforming its Ethereum-based counterpart. This is due to the low fees of Tron features, which make it cheaper for users to make transactions.

Justin Sun, founder of the Tron blockchain, said he was “excited about USDC’s support on TRON as the demand for the world’s fastest growing stablecoin is endless and I can’t wait to see what end users do with USDC can”.

What do you think of the introduction of USDC on Tron and other blockchains? Let us know in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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