USDC to launch on Arbitrum.

  • Circle has announced the launch of USDC on the Arbitrum blockchain.
  • The native USDC will replace Ethereum-bridged versions on the protocol.
  • The launch is scheduled for June 8, 2023.

Circle, the stablecoin issuer, has announced that it will launch USDC natively on the Arbitrum blockchain. This will lead to the native USDC liquidity gradually replacing Ethereum-bridged versions on the Layer 2 protocol. According to Circle, the native USDC will be considered the official version of USDC for the Arbitrum ecosystem. The launch is set for June 8, 2023. The native USDC will enable ecosystem users to enjoy benefits such as cross-chain transfer protocol support and further institutional on and off-ramps via Circle and other partners. The Arbitrum Foundation will work with ecosystem apps to ensure a smooth transition of liquidity from the bridged USDC to native USDC. However, there will be no immediate changes to the Arbitrum Bridge, which will continue to operate normally for bridging USDC to and from Ethereum. Circle’s announcement comes a few days after the launch of Euro Coin stablecoin on Avalanche. The company aims to support multichain for the euro-backed stablecoin.

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