The Centre Consortium, co-founded by Circle and Coinbase, has announced that USD Coin (USDC) is now available on the Solana blockchain. The company hopes this integration will open up new possibilities with a new architecture that will enable applications that require much higher throughput and speed.
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According to an official announcement, cryptocurrency market maker Alameda Research, and global exchange FTX also announced support for USDC on Solana.
Circle CEO Jeremy Allaire claims Solana "has quickly emerged as a compelling new blockchain platform" focused on the decentralized finance ecosystem.
"We are excited to bring USDC to Solana where an impressive group of projects and protocols are being developed, and look forward to working with the developers as we collectively pursue a scalable, open and inclusive global financial system," Allaire added.
Earlier in September, another stablecoin issuer, Tether, extended the range of supported blockchains with decentralized network from Solana.
With the new blockchain network, holders of the stablecoin can exchange USDT at speeds greater than 50,000 transactions per second – often for less than $0.00001 per transaction.
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