USDC is now available on HAQQ, allowing for a seamless transition from Ethereum and more than 50 other chains to the HAQQ ecosystem. This can be done bi-directionally using Axelar Satellite. This is one example of how the HAQQ ecosystem combines Shariah-compliant with advanced technology to create a fairer and more sustainable financial system, especially within the decentralized finance (DeFi) ecosystem.
Axelar provides secure cross-chain connectivity for Web3, allowing dApp users to interact with any asset or application in any chain with a single click. They connect over 50 blockchains, including consensus methods such as Cosmos and EVM.
Stablecoins like USDC play an important role in DeFi by offering stability in the face of crypto market volatility. With a sizable market capitalization of over $24 billion, USDC provides a solid foundation for DeFi transactions, supporting consistent trading, lending, and borrowing. The stability of USDC facilitates wider adoption by reducing the risks associated with cryptocurrency fluctuations.
Users of the HAQQ ecosystem can now easily access and transfer USDCs across #HAQQ and other chains supported by Axelar's cross-chain solution.
HAQQ is actively exploring the development of gold-backed Shariah tokens that comply with Islamic financial principles and provide a stable and ethical investment option. Integration with the Axelar network aims to improve the availability of these tokens, enabling smoother cross-chain transactions and facilitating wider adoption in the DeFi ecosystem.
On my own behalf, the project is actively looking for options for cooperation, collaboration, and partnership to make it easier for ordinary users to use decentralized web3 applications, and this once again speaks to the serious intentions and goals set by the project team.
Do you think they will succeed in achieving their goals?
Read the guide on how to convert USDC from Ethereum to HAQQ in the next article!
Good luck to you!
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