Circle has announced support for USDC on the Flow network. Flow is -a Web3 platform originally created by Dapper Labs, that includes an ecosystem of NFT projects including NBA Top Shot, BALLERZ, Matrix World, and others.
USDC is the second-largest stablecoin by market cap in the world. According to Coinmarketcap, USDC’s total value is just shy of $50 billion.
Circle notes that by supporting USDC on Flow creators and consumers have the ability to send and receive payments directly with USDC.
Jeremy Allaire, CEO and co-founder of Circle, said that Flow has emerged as a top destination for creators, artists, and developers building blockchain-based media:
“Circle is delighted to simplify the payments process and empower creators and consumers to participate in this blossoming ecosystem.”
Circle notes that it previously announced a partnership with Dapper in 2020 to leverage Circle’s solution for non-fungible token (NFT) platforms which enable USDC as a payment and settlement option for digital collectible marketplaces built on Flow. Today’s announcement represents an expansion of this partnership.
Mik Naayem, co-founder and Chief Business Officer at Dapper Labs, commented:
“Flow led the NFT mainstream adoption with innovative platforms like NBA Top Shot and many others. Millions of users will be introduced to innovative DeFi products for the first time on Flow, where USDC will play a vital role. USDC is the most trusted dollar digital currency and by making it available to all developers on Flow, it will continue to catalyze mainstream adoption of dApps.”
Circle now supports USDC natively across the Ethereum, Algorand, Solana, Stellar, TRON, Hedera, and Avalanche blockchains, as well as Flow.
Circle reports over $1.6 trillion in on-chain transactions as of January 2022.
