Circle and the Monad Foundation have announced that USDC, a $ 60 billion stablecoin will launch on the first day of the Maintnet on the Monad chain on most block chains in the crypto space. Monad, an L1 -blockchain focused on switching on parallel version on the Ethereum Virtual Machine with 10,000 transactions per second, is currently on TestNet.
In addition to the Stablecoin, Circle can be introduced by Circle Wallets and the CCTP V2 protocol in the ecosystem of the Blockchain network. This means that Circle will support the growth of the Monad network by giving developers access to deep liquidity and trusted settlements in USDC. Developers can use this to build and use powerful applications for decentralized finances, gaming and payments.
CCTP V2, an upgrade to Circle’s Cross-Chain transfer protocol that will be launched in March, makes fast and composite USDC transfers possible. The improved CCTP V2 uses fast transfer and hooks to reduce USDC settlement times on Ethereum and Layer 2 networks to a few seconds. These functions are now available for monad users on the Mainstet. The support of Circle for Monad will also include circle wallets, a service that offers flexible wallet integration with any decentralized application.
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Credit : cryptonews.net
