Stablecoin issuer Circle will launch USDC, its dollar-based stablecoin, on Arbitrum this June 8th.
Circle states that this version of USDC will eventually replace the currently circulating bridged version of USDC that comes from Ethereum – which becomes USDC.e.
Arbitrum is a blockchain technology that claims to provide 7x more throughput than Ethereum at a lower cost, without sacrificing any security.
Circle says that Arbitrum will be working to provide a smooth transition of liquidity from bridged USDC to native USDC over time.
Circle adds there will be no immediate changes to the Arbitrum Bridge, and it will continue to operate normally for bridging USDC to and from Ethereum.
Circle says by using Arbitrum, transfers will be accomplished in minutes, eliminating delays.
USDC is a top dollar-based stablecoin with a market cap of around $28.8 billion. Circle aims to become the first fully regulated stablecoin issuer that can provide payments and transfers for the masses – at a lower cost and faster than established payment rails.
