Circle Launches Native USDC on Aptos Mainnet for Direct Transactions
Circle has launched its native stablecoin USDC on the Aptos Layer-1 mainnet, removing the need for bridging transactions. This integration enhances access to USDC liquidity for financial institutions using Aptos's secure network.
Aptos Ecosystem Growth
- Aptos reported a tenfold growth in its DeFi ecosystem last year.
- The platform supports various applications including DeFi, peer-to-peer payments, and gaming.
- Over 200 apps are currently being developed on Aptos.
Transition to Native USDC
- The introduction of native USDC aims to provide developers with a reliable foundation.
- Aptos previously used a bridged version called lzUSDC, which is not issued by Circle.
- Migration from lzUSDC to native USDC will occur gradually through collaboration with bridge providers.
- Support for USDC on Coinbase is anticipated soon.
USDC Circulation Growth
- USDC circulation grew by 78% year-over-year in 2024, outpacing other major stablecoins.
- Circle CEO noted USDC as a crucial link between traditional and digital finance.
- There is potential for USDC to challenge Tether’s USDT market dominance.