Circle Adding USDC to Polygon for Web3 Payments
Fintech company Circle is adding its crypto stablecoin, the US Dollar Coin (USDC), to the Polygon blockchain. With Polygon USDC, users won’t have to bridge their USDC from Ethereum’s mainnet to Polygon. The Ethereum-Polygon bridge is cumbersome for many because it’s slower than typical ETH transactions and incurs Ethereum mainnet gas fees.
Circle CEO and co-founder Jeremy Allaire shared in a statement his reasoning behind why the company is adding USDC to Polygon, which now features roughly 20,000 dApps. “Supporting Polygon USDC in the Circle Account and Circle APIs is another step toward making USDC interoperable across more leading blockchains, helping foster greater adoption for dollar digital currency on the internet,” Allaire said. While Polygon-native USDC may be new, USDC isn’t—$110 million was poured into its creation by venture capitalists in 2018.
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