Circle Now Supports Polygon USDC on Its Payments Platform
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Circle Adds USDC to Polygon
Circle is expanding beyond the Ethereum mainnet for the first time by launching support for its USDC stablecoin on the Polygon blockchain. The move will enable Polygon-based businesses and developers to decrease settlement times and lower costs by directly accessing USDC using Circle Account. Users will also be able to convert fiat currency to Polygon USDC in just seconds.
Commenting on the initiative, Circle CEO and co-founder Jeremy Allaire said:
“Supporting Polygon USDC in the Circle Account and Circle APIs is another step toward making USDC interoperable across more leading blockchains, helping foster greater adoption for dollar digital currency on the internet. ”
Polygon USDC is a bridged version of USDC as opposed to a native implementation such as the ones issued on blockchain platforms such as Algorand, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and Tron.
While Polygon-native USDC may be new, USDC isn’t. It was launched back in 2018. Issued by Circle, USDC is the second-largest stablecoin with a market capitalization of about $53.7 billion, according to data from CoinGecko.
Meanwhile, Polygon is the largest Layer 2 network for Ethereum, according to its market capitalization.
