Circle and Coinbase’s very own stablecoin USDC will become available on the TRON blockchain and it is one of the ten new blockchain platforms that have added USDC support.
— TRON Foundation (@Tronfoundation) June 30, 2021
The addition of USDC to the TRON blockchain enables users to take advantage of TRON’s real-time transaction speeds, scalability, and cost-efficiency.
TRON is currently working on the development of the TRC20-USDC and updates would be announced soon.
Previously USDC was initially launched on the Ethereum, Algorand, Stellar, and Solana blockchains.
What is USD Coin?
USDC is a digital stablecoin that is pegged to the USD and it was founded by Circle, a global financial technology firm and the cryptocurrency exchange Coinbase.
USD Coin is managed by a consortium called Centre, which is an open-source technology project by Circle and Coinbase.
10/10: Centre announces a new round of multichain growth for USDChttps://t.co/397Wrfxhks
— CENTRE (@centre_io) June 29, 2021
Currently, USD Coin is the 2nd largest stablecoin in the market behind USDT (Tether) and it has a market cap of over 25 Billion USD.
USDC was first announced in May of 2018 and was launched in September of the same year.
Asides from their partnerships with different blockchains, they recently have a partnership with the largest financial services corporation Visa to allow the use of USDC for transactions on their payment network.
What is TRON?
TRON is a blockchain-based decentralized platform that was founded by Justin Sun. TRON aims to create a free, global digital content entertainment system with distributed storage technology and allows easy and cost-effective sharing of digital content. TRON is dedicated to building the infrastructure for a truly decentralized Internet.
TRON’s support for USDC is one of the projects that we need to keep an eye on and this partnership is good, but it can definitely grow rapidly in the following months, just like the previously supported stablecoins by TRON.
For more news and updates, see Tron Spark.