Circle’s USDC Is Now Supported On DApper’s Labs Flow Blockchain

Circle’s USDC is now supported on the Dapper Labs Flow Blockchain with the goal to simplify the payments process for the users on the network as we are reading more in today’s latest Blockchain news.

The financial services company Circle and the issuer of USDC enabled support for the stablecoin on the Flow network and made it the eighth integration for the second biggest stablecoin on the blockchain network. Circle announced the news of the USDC support on flow and according to the statement, the users of the Flow network will be able to mint and redeem the stablecoin on the blockchain. Circle’s USDC is now supported on the Flow Blockchain and users seem to be thrilled.
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Flow was launched by DApper Labs as the creator of NFT collectibles CryptoKitties and it is a fast and secure blockchain. Flow’s role and design enable the network to attain high performance at a low cost but its ecosystem also includes NBA top shot, BALLERZ, and Matrix World among others. The USDC support on flow will enable the users to make payments with the dollar-backed stablecoin and integrate USDC into the Flow network that will boost the consumer experience and will facilitate the growth of the DEFI ecosystem.

Dapper Labs partnered with Circle back in 2020 to include USDC as an additional payment and settlement method for all applications built on the Flow blockchain. In the meantime, the recent press release explained that the developments are expanding the collaboration that will see other developers utilize Circle’s suite of developer application programming interfaces. Commenting on the coin’s support on Flow, the co-founder and Chief Business Officer Mik Nayeem said:

“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.”

Also, Jeremy Allaire as the Circle co-founder said:

“Flow has emerged as the go-to destination for thriving communities of developers, artists, creators, and brands building their own blockchain-based digital media and entertainment experiences. Circle is delighted to simplify the payments process and empower creators and consumers to participate in this blossoming ecosystem.”

Circle continues to expand the use of the USDC stablecoin on multiple blockchains with a market cap of $50 billion and USDC is the second biggest stablecoin behind USDT and the fastest-growing digital dollar currency. The latest announcements made Flow the eighth network that has support for USDC. Others include Ethereum, Solana, Avalanche, Algorand, Tron, Solana, Stellar, and Hedera. Circle is also eyeing the Asian market and plans to establish a regional headquarters in Singapore.