According to CryptoPotato, fintech company Circle has declared that its native USDC is now accessible on the leading layer 2 rollup, zkSync. This move eliminates the need for bridging, making it easier for developers and users. With this recent addition, USDC is now supported on a total of 16 blockchain networks.
In a blog post on April 9th, Circle stated that several notable ecosystem applications and DeFi protocols are expected to adopt native USDC on zkSync for various uses, including payments, trading, borrowing, and lending. Among these is Koi Finance, a prominent zkRollup defi platform built on zkSync Era, along with the decentralized exchange SyncSwap and the lending protocol ZeroLend.
Circle emphasized the benefits of using native USDC in financial transactions. As a regulated asset, it provides stability and assurance, being fully backed and redeemable at a 1:1 ratio for US dollars at any time. Its native status facilitates seamless integration into institutional on/off-ramps, such as Circle Mint, simplifying processes for institutions and users. Furthermore, its compatibility allows for integration into existing applications, providing a straightforward solution for businesses wanting to incorporate stablecoin functionalities into their platforms.
The native USDC, officially issued by Circle, maintains a consistent 1:1 redeemability for US dollars. However, there’s also a variant of USDC termed as USDC.e on zkSync, which is essentially USDC transferred from Ethereum through a bridge mechanism. It’s important to note that this bridged USDC (USDC.e) is not issued by the company. This announcement follows Circle's recent integration of its USDC stablecoin into the zkSync ecosystem.
