Centre to Expand USDC to Ten More Blockchains; Launches on Tron
Centre, the consortium behind USDC (the second largest stablecoin in market share), announced that it will launch a campaign to expand the reach of the coin to ten additional blockchains. This plan aims to increase USDC’s market reach. This would allow the coin’s users to take advantage of the unique benefits of different blockchains that are used with USDC.
USDC was launched in September 2018 as an Ethereum-based token. However, the Ethereum blockchain was in a completely different place. Ethereum allowed for low transaction fees and had low fees. Ethereum transaction fees have become more costly, so Centre has an expansion policy to address this issue.
USDC launched three new chains last year: Algorand and Stellar. Major exchanges did not provide solid support for these implementations. Now, however, Avalanche and Celo will have native currency implementations. Centre didn’t provide a timeline for these expansions.
Tron Launched by USDC
Although no timeframe was given for these actions Circle already announced today the launch USDC as a Tron token. The Tron network now has the largest stablecoins in market share, USDC. Circle CEO, Jeremy Allaire stated:
TRON has created a large and highly successful network and platform for blockchain technology that is used widely in stablecoin transactions.
Tron is the most trusted platform for stablecoin transactions at a low price. The Tron network now holds more USDT than its Ethereum-based counterpart. Because Tron has low fees, users can transact cheaper.
Justin Sun, the founder of Tron, stated that he was ‘thrilled’ to support USDC on TRON as there is unending demand to the world’s fastest growing stablecoin. I can’t wait to see the end users’ reactions to USDC.
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