Circle, the company behind the USDC stablecoin, has expanded the list of supported blockchain networks, bringing USD coin to the Cosmos ecosystem. According to a blog announcement, a blockchain firm called Noble will be an issuance platform for the stablecoin.
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Noble claims the integration will "catalyze hundreds of millions of dollars in liquidity", rectifying the challenges that users and decentralized applications face when interacting with bridged assets. However, the scale of the USDC issuance on Cosmos remains unclear.
The expansion comes shortly after Circle picked Xapo since its previous banking partner Silicon Valley Bank went bankrupt. The Gibraltar-based bank now offers a 1:1 conversion rate from USDC to USD.
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