Centre is excited to announce today that USD Coin (USDC) is now live on Avalanche. USDC is the fastest growing digital dollar on the market, with more than 40 billion in circulation, and we are thrilled to bring the opportunity for faster, more efficient transactions enabled by USDC’s trusted standards to the Avalanche ecosystem.
“We are very pleased that USDC is launching on Avalanche,” said Centre CEO David Puth. “They have built a remarkable community and providing them with a trusted source of liquidity will allow them to innovate and develop new applications”.
Avalanche has seen incredible growth this past year, as users and developers recognized the value of its unique architecture to enable fast and secure transactions in an energy-efficient way. Completely compatible with Ethereum smart contracts, the Avalanche-X accelerator makes it easy for developers to deploy dApps on-chain, and native USDC increases the degree of interoperability. Created by Ava Labs and launched in September 2020, Avalanche achieves high throughput, up to 4,500 transactions per second, by utilizing a unique Proof of Stake consensus mechanism and multiple interworking blockchains.
The speed and scalability enabled by this multi-blockchain design has seen a robust DeFi ecosystem and an active community established on Avalanche. An important aspect of financial inclusion is the ability to make choices, for people to decide how and where they make transactions. As gas fees price some out of DeFi on other chains, it’s important to have options where that ecosystem remains accessible. With the introduction of native USDC liquidity- no need for cross-chain bridging- the opportunities on Avalanche will only continue to grow.
This launch is consistent with Centre’s commitment to a multi-chain objective. USDC is already live on Ethereum, Algorand, Hedera, Solana, Stellar, and Tron, and we look forward to announcing additional integrations soon. It has always been our belief that the future will be not just multi-chain, but multi-currency, and we have multiple projects in late-stage development that support this initiative.
We are enthusiastic about the opportunities for financial growth and inclusion that these programs, combined with the power of smart contract platforms like Avalanche, will bring to a global community with a digital economy.