USDC issued by Circle will reportedly be “native to OP Mainnet and can be considered the official form of USDC for the ecosystem.”
Over time, native USDC liquidity may “grow and replace the currently circulating bridged USDC liquidity that comes from Ethereum.”
Native USDC will give OP Mainnet users the following benefits:
- A dollar-backed stablecoin that’s fully reserved and always redeemable 1:1 for US dollars
- The availability of institutional on/off-ramps
- Ahead of the launch of native USDC, the Ethereum-bridged form of USDC on block explorers will be renamed as USDC.e. There will also be outreach to ecosystem apps to make the same change in their app UI and documentation.
Circle also shared:
- Bridged USDC from Ethereum
- Token Symbol: USDC.e
- Token Address: 0x7f5c764cbc14f9669b88837ca1490cca17c31607
Circle further noted:
- Native USDC issued by Circle
- Token Symbol: USDC
- Token Address: 0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85
- Optimism will work with ecosystem apps to provide a smooth transition of liquidity from USDC.e to USDC over time. There will be no immediate changes to the OP Mainnet bridge and it will continue to operate normally.
Circle says it is excited about “what native USDC means for the Optimism ecosystem.”
As covered, Circle has announced that its dollar-based stablecoin, USDC, will be added to six new blockchains including; Base, Cosmos via Noble, NEAR, Optimism and Polkadot, and Polygon PoS. The first five will be added in September, with Polygon joining in October. By adding USDC to these networks, developers can easily incorporate the stablecoin for payments and transfers. At the same time, this should help boost the utilization of USDC – something that is good for Circle and its vision of the digital asset future.
Circle notes that it already supports USDC natively across Algorand, Arbitrum, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and TRON.
If pending stablecoin legislation makes it through Congress, Circle is well positioned to gain traction globally as a proxy for the US dollar.
