USDC took off as one of the native asset on Flow blockchain

USDC is one of the biggest USD pegged stablecoins in terms of market capitalization. Recently, Circle, the firm behind the stable crypto tokens have launched the cryptocurrency as a native asset on top of the Flow blockchain. Notably, the blockchain is a project made to host Non-Fungible Tokensand game-based initiatives. Flow aims for low fees and a high volume of transactions. With the latest rollout, the stablecoin plans to expand its footprint to more chains. Indeed, Flow is the eighth native blockchain where the USD Coin resides.

USDC is now on Flow

USDC issuer, one of the biggest payments firms in the United States have launched one of its prime products on Flow blockchain. Users of the NFT and Web3.0 oriented blockchain will now be able to mint and redeem the stablecoin on the platform.

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The latest launch aims to make it easier for users of projects in Flow to transfer and leverage value across the dApps ecosystem.

How will the latest alliance help the stablecoin?

According to Jeremy Allaire, the CEO of Circle, the significance of Flow and its design is suitable for some new utilities looking for this kind of decentralized structure. Notably, the blockchain has emerged as the go-to destination for fostering communities of developers, artists, creators, and brands building their digital media and entertainment experiences.

Following the scenarios, Allaire claimed that the latest launch would facilitate payments and help traffic on the network thrive in new and existing projects. It is also noteworthy that the blockchain is created by the developers of Cryptokitties, and is a home toa series of NFT projects.

USD Coin and Circle’s triumph

Circle’s strategy for USDC has witnessed significant growth for the currency. Notably, the payments have been expanding and integrating the stable cryptocurrency natively on several smart contracts enabled blockchains. Such measures taken by Circle led a boom in the cryptocurrency’s market cap, which also helped the token to compete with its largest competitor in the market.

Furthermore, it is also noteworthy that Flow is the eighth chain of USD Coins. The cryptocurrency commenced natively as an Ethereum token in 2018. And today, it is the second largest stablecoin project.