According to Noble, a token protocol startup, the company’s rollout in partnership with Circle Financial will see its second largest stablecoin, USDC, integrated into the Cosmos blockchain, Noble detailed that the integration will give Circle’s USDC stablecoin access to more than 50 inter-blockchain communication (IBC) networks.
Native USDC Support Comes to Cosmos Blockchain
nobleCosmos, a token issuance protocol startup, has announced that the Cosmos network of IBC protocols will support USDC. The team introducedandNoble announced the protocol last week in a blog post describing it as “an app chain built for native asset issuance in the Cosmos and Infinite Inter-Blockchain Communication (IBC) ecosystems.” On Tuesday, Nobleannounced a partnership with Circle Financialto bring USDC into the Cosmos ecosystem.
“This is a big moment for our ecosystem.” Noble said Tuesday.” Cosmos has never had a native, fiat-backed stablecoin with high liquidity (and) full collateral; for the first time in Cosmos history, over 50 IBC-enabled blockchains will soon have native access to USDC via IBCs will be available,” Noble added, adding that Circle Financial also confirmed the partnership on Tuesday,said, “We are excited to offer USDC to Cosmos, and USDC will be available on [Noble] soon, stay tuned for more details.”
After USDC becomes native to Cosmos, it will be the ninth blockchain to be natively hosted by Stablecoin. Currently, USDC is natively hosted on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. Additionally, USDC is bridged to Arbitrum, Near, Fantom, and Polygon. Previously bridged to Cosmos but not hosted in a native fashion, Noble said this new native support overcomes some of the challenges associated with bridging technology.
“This integration aims to catalyze hundreds of millions of dollars of liquidity in Cosmos in the coming months and remedy the challenges faced by users and apchains when interacting with bridged assets,” Noble elaborated. neither Noble nor Circle have disclosed an official launch date. While no date has been given, Noble stated that further announcements regarding asset integration are forthcoming, including a formal start date for USDC at Noble.
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