Circle, the USD Coin operator (USDC), has added support for Polygon’s second-tier solution to use stablecoin on its payment platform.
1/8 Circle is proud to announce support for @ 0xPolygon USDC on Circle’s platform!
Businesses can now deposit and withdraw #PolygonUSDC using the Circle Account and Circle APIs, no manual bridging required. https://t.co/RlwvcBbuYO
– Circle (@circlepay) June 7, 2022
Circle has automated for users the ability to transfer USDC to Ethereum to the Polygon network through its Polygon Bridge crosschain protocol.
“Circle customers can deposit and withdraw funds to Polygon USDC using an account and API without the need to use the crosschain bridge manually, ”the statement said.
According to the company, the conversion of fiat currency into Polygon USDC and back will take “a few seconds”.
Circle noted that with Polygon’s support through accounts and APIs, businesses and developers will have access to a variety of stablecoin uses:
- trading on leading exchanges such as Binance and FTX;
- exchange, borrowing and lending in DeFi protocols such as Aave and Uniswap;
- accepting payments for NFT marketplaces and gaming platforms;
- instant programmable payments to users around the world.
Polygon USDC became the first “bridge” version of stablecoin, noted in Circle.
At the time of writing, the USDC is the second largest “stable coin” after Tether’s USDT.
The gap between them in terms of emissions began rapidly to be reduced from September 2020.
In January 2022, the USDC offer on the Ethereum blockchain for the first time exceeded USDT indicator.
Recall that USDC is also available online Algorand, Solana, Stellar, Throne, Hedera Hashgraph, Avalanche and Flow.
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