Circle, the issuer of the stablecoin USD Coin, is now available on zkSync, an Ethereum layer 2 solution.
This allows a wider range of DeFi applications and protocols to support USDC for transactions, exchanges, loans and credits. This extension of zkSync adds to the 16 blockchains that already support USDC.
ZkSync uses zero-knowledge proofs and rollups to ensure transaction integrity. It processes transactions at low cost and high speed, sending a finalized proof to the Ethereum mainnet.
As of April 9, there are more than 180 decentralized applications and 5.7 million active wallet addresses using zkSync. USDCs on zkSync can be redeemed for US dollars or exchanged for other USDCs via cross-chain bridges.
Notably, institutional investors can also access USDC through Circle Mint.