According to token protocol startup Noble, the second largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will provide access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks.
USDC Native Support Coming to Cosmos Blockchain
Noble, a token issuing protocol startup, has revealed that the Cosmos network of IBC protocols will support USDC. The team introduced Noble last week in a blog post describing the protocol as an “app chain purpose-built for the issuance of native assets in Cosmos and the borderless Inter-Blockchain Communication (IBC) ecosystem.” On Tuesday, Noble announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem.
“This is a huge moment for our ecosystem,” Noble said Tuesday. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully secured. For the first time in Cosmos history, 50+ IBC-enabled blockchains will soon be able to access USDC natively via IBC,” Noble added. Circle Financial also confirmed the partnership on Tuesday and so“We are excited to bring USDC to Cosmos. USDC is expected to launch on [Noble] soon, stay tuned for details.”
After USDC becomes resident in Cosmos, it will be the ninth blockchain where the stablecoin is hosted. Currently USDC is hosted on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow and Hedera. In addition, USDC is connected to Arbitrum, Near, Fantom and Polygon. While previously connected to Cosmos, it was not hosted in a native way. Noble says this new native support will help overcome challenges with bridging techniques.
“This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos and will seek to address the challenges that users and app chains face when interacting with bridged assets,” Noble detailed. Neither Noble nor Circle has revealed the official launch date, but Noble stated that further announcements about asset integrations are coming, including the official launch date for USDC on Noble.
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What impact do you think the integration of USDC on the Cosmos blockchain will have on the overall stablecoin market? Share your thoughts on this topic in the comments section below.
Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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