{"id":79621,"date":"2023-06-01T18:30:17","date_gmt":"2023-06-01T15:30:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79621"},"modified":"2025-09-11T12:04:34","modified_gmt":"2025-09-11T09:04:34","slug":"circle-launches-usdc-on-arbitrum-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-launches-usdc-on-arbitrum-network\/","title":{"rendered":"Circle launches USDC on Arbitrum network"},"content":{"rendered":"<p>Circle, a member of the Centre consortium, planned to launch the stablecoin<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-usdc-stablecoin\"> USDC<\/a> on<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\"> the Layer-2 network<\/a> Arbitrum on June 8.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Circle announced that it will start launching native USDC on Arbitrum on June 8 to replace the previous bridge version of USDC from Ethereum. Currently Circle has launched nativeUSDC on Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow, and Hedera.\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1664265887325773828?ref_src=twsrc%5Etfw\\\">June 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The solution will replace the currently used Ethereum-Arbitrum bridge.<\/p>\n<p>It is expected that, over time, the \u00abofficial\u00bb USDC will, in liquidity terms, displace its <a href=\\\"https:\/\/arbiscan.io\/address\/0xff970a61a04b1ca14834a43f5de4533ebddb5cc8\\\"> \u0432\u0435\u0440\u0441\u0438\u044e \u0441 \u0431\u043b\u043e\u043a\u0438\u0440\u043e\u0432\u043a\u043e\u0439 \u0442\u043e\u043a\u0435\u043d\u043e\u0432<\/a> on the second-largest cryptocurrency by market capitalization network.<\/p>\n<p>To eliminate confusion, the &#8220;bridge&#8221; variant will be renamed to USDC.e.<\/p>\n<p>With the assistance of Arbitrium Foundation, updates to the ecosystem&#8217;s application interfaces will be carried out.<\/p>\n<p>No immediate changes to Arbitrum Bridge will occur. The bridge will continue operating as usual.<\/p>\n<p>The native Arbitrum USDC token will offer several advantages:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>full fiat backing and Circle&#8217;s 1:1 USD redemption commitment;<\/li>\n<li>fiat-to-crypto gateways for institutional investors through the company and partners;<\/li>\n<li>upcoming support for the protocol CCTP to move stablecoins across blockchains to improve user experience.<\/li>\n<\/ul>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u00abTransfers will take only a few minutes \u2014 no more delays in withdrawals\u00bb<\/em>, the Arbitrum Foundation said.<\/p>\n<\/blockquote>\n<p>Currently, CCTP<a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-cross-chain-usdc-transfers-between-ethereum-and-avalanche\"> is implemented<\/a> for Ethereum and Avalanche.<\/p>\n<p>On a transfer request, the protocol burns the amount of USDC specified by the user on the source network and mints an equivalent amount of tokens for the user&#8217;s wallet on the destination blockchain.<\/p>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">June 8, 2023 | 18:41<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span>\\n<\/p>\n<p>Circle announced the launch of USDC on the Arbitrum Layer 2 network.<\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/ Launch alert ? USDC is now natively available on <a href=\\\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\\\">@Arbitrum<\/a>, a leading L2 scaling solution for Ethereum: <a href=\\\"https:\/\/t.co\/qYjwBTimND\\\">https:\/\/t.co\/qYjwBTimND<\/a><\/p>\n<p>\u2014 Circle (@circle) <a href=\\\"https:\/\/twitter.com\/circle\/status\/1666792709514838016?ref_src=twsrc%5Etfw\\\">June 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script> \\n<\/div>\n<p>Circle releases the stablecoin across several networks, including <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-algorand-algo\">Algorand<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-avalanche-avax\">Avalanche<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-hedera-hashgraph-hbar\">Hedera<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-solana-sol\">Solana<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/circle-to-launch-usdc-stablecoin-in-the-cosmos-ecosystem\">Cosmos<\/a>. The company plans to integrate at least part of them into CCTP during 2023.<\/p>\n<p>In January, the company published its first <a href=\"https:\/\/u1f987.com\/en\/news\/circle-publishes-first-annual-report-on-the-usdc-economy\">annual report<\/a> on the state and prospects of the USDC economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle, a member of the Centre consortium, planned to launch the USDC stablecoin on the Layer-2 Arbitrum network on June 8.<\/p>\n","protected":false},"author":1,"featured_media":79622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1335,1220,807,910],"class_list":["post-79621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arbitrum-arb","tag-circle","tag-stablecoins","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=79621"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79621\/revisions"}],"predecessor-version":[{"id":79623,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79621\/revisions\/79623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79622"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}