Centre Blog

USDC Live on Hedera Hashgraph

CENTRE Consortium
CENTRE Consortium
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Oct 18, 2021 9:03:20 AM

 

Centre is excited to announce today the launch of USDC on Hedera Hashgraph. This integration is a demonstration of our ongoing commitment to a multi-chain ecosystem and financial inclusion, bringing access to digital assets to the widest possible audience. With a market cap of nearly $33 billion, USDC adoption continues to rise, built on a foundation of trust and a growing network of interoperable protocols.

Hedera is unique in its use of hashgraph consensus to build its network. This solution, developed by Hedera co- founder and Chief Scientist Dr. Leemon Baird, provides the highest level of security while achieving 10,000+ transactions per second. 

"We are extremely pleased to have Hedera as a partner in the growth of USDC network. Their trusted infrastructure provides people around the world the ability to build and transact quickly and safely, and they can now do so with USDC", said David Puth, CEO of Centre.

This expansion onto Hedera will bring USDC to a new network of developers, businesses, art collectors, and entrepreneurs on Web3. Hedera recently announced the creation of the HBAR Foundation with $2.5 billion of funding in HBAR allocated for ecosystem grants. Hedera already has a robust ecosystem of apps built for payments, gaming, DeFi, and the creator economy, and  the introduction of USDC will allow each of these segments to grow further and faster.

Said Shane Higdon, Executive Director & CEO of the HBAR Foundation, “Supporting USDC on Hedera is an important step for the HBAR Foundation toward fulfilling its mission of accelerating DeFi development on the network. We see USDC as a key primitive for DeFi and payments use cases, and we are excited to empower builders to bring these new applications to market.”

Centre is excited about the shared values and goals between the organizations. We are deeply aligned on our mutual belief that building trusted technology and governance mechanisms are the most effective ways to increase the adoption of Web3 and a broader financial future for everyone. The HBAR Foundation and Centre share a commitment to trust and transparency that allow users to build a new financial future with confidence.

Hedera is overseen by a Governing Council comprising a diverse cross section of finance, crypto, technology and communications. Centre looks to announce its membership framework in the coming weeks, and this dedication to decentralized governance and working collaboratively with stakeholders will be a central feature.

“It is fantastic that Hedera now has USDC on chain, it will be fundamental for its 23 Governing Council members to enable their vision of a distributed future”, said John Shipman, Centre’s Chief Commercial Officer.

With the addition of Hedera, USDC is now live on 6 blockchains including, Ethereum, Algorand, Stellar, Solana and Tron.  Our vision is to continue to expand USDC and future Centre standard stablecoins on the world’s most critical blockchains.

We look forward to seeing what the Hedera community will build with USDC, and with future Centre standard projects. 

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