News - Stablecoin USDC launched on Arbitrum network

By Mike Hesp

Stablecoin USDC launched on Arbitrum network

Arbitrum (ARB)

Circle's stablecoin USDC runs on a different network with Arbitrum. The tokens can be issued nationally or "hybrid."

De stablecoin (USDC) van Circle runs now on the Arbitrum network. Circle announced this in a June 8 press release.

"We are excited to announce that USDC is now available on Arbitrum and accessible to developers and their users," said the press release.

The introduction of stablecoin on the Arbitrum network is intended to give developers, businesses and users "access to Arbitrum USDC and the benefits of faster settlement times and lower costs."

Native USDC are officially issued by Circle "and can always be redeemed 1:1 for U.S. dollars," the company explains. In the case of Arbitrum, there is also a "bridged" form of USDC, known as USDC.e, which can be transferred (hybridized) from Ethereum.

"Arbitrum will work with apps in the ecosystem to enable a smooth transition of liquidity from bridged USDC to native USDC over time," Circle said.

Arbitrum is a layer 2 scaling solution for Ethereum. It makes transactions faster and cheaper.

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