Noble Partners With Circle Financial to Integrate USDC on Cosmos Blockchain

Bitcoin News

According to the token protocol startup Noble, the second-largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks.

USDC Native Support Is Coming to the Cosmos Blockchain

Noble, a token issuance protocol startup, has revealed the Cosmos network of IBC protocols will support USDC. The team introduced Noble last week in a blog post that describes the protocol as an “app-chain purpose-built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem.” On Tuesday, Noble announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem.

“This is a huge moment for our ecosystem,” Noble said on Tuesday. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully collateralized. For the first time in Cosmos history, 50+ IBC-enabled blockchains will soon be able to access USDC natively via IBC,” Noble added. Circle Financial also confirmed the partnership on Tuesday and said, “We’re excited to bring USDC to Cosmos. USDC is expected to launch on [Noble] soon, stay tuned for details.”

After USDC becomes native to Cosmos, it will be the ninth blockchain where the stablecoin is natively hosted. Currently, USDC is hosted natively on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. Additionally, USDC is bridged to Arbitrum, Near, Fantom, and Polygon. While it was previously bridged to Cosmos, it was not hosted in a native manner. Noble says that this new native support will help overcome challenges with bridging techniques.

“This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos, and will seek to rectify the challenges that users and appchains face when interacting with bridged assets,” Noble detailed. Neither Noble nor Circle have disclosed the official launch date, but Noble stated that further announcements on asset integrations are coming, including the official launch date for USDC on Noble.

Tags in this story
adoption, Algorand, Arbitrum, Asset, Avalanche, Blockchain, Bridged, Bridges, Bridging USDC, Challenges, Circle, Circle Financial, collateralized, Cosmos, Cosmos Noble, Cosmos USDC, Cryptocurrency, Decentralization, Digital, Ecosystem, Ethereum, Fantom, Fiat-backed, Finance, Flow, hedera, Hosted, IBC, Innovation, integration, interoperability, issuance, Liquidity, market, native, Native USDC, NEAR, networks, Noble, Noble Cosmos, partnership, Polygon, protocol, Solana, Stablecoin, Stellar, technology, Token, tron, usd coin, USDC, USDC Cosmos

What impact do you think the integration of USDC on the Cosmos blockchain will have on the overall stablecoin market? Share your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Ripple CEO Reveals The Only Thing That Can Guarantee Success For XRP
Getting Cheaper, Getting Higher? Ethereum Dencun Upgrade And The Potential For ETH To Rise Back Above $4,000
Ripple Vs SEC: Crucial Dates To Watch Out For In 2024
Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target
Market Alert: Ethereum Faces Potential Downfall As Dencun Upgrade Looms – Here’s Why