Circle Will Launch USDC For Cosmos Via Noble Network

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According to a blog article from the Noble development team, USD Coin USDC will soon be accessible in the Cosmos environment via the Noble network. Circle, a USDC issuer, published the post on Twitter. Noble Network, a worldwide trading platform, said that USD Coin (USDC) would soon be available to all 50+ Cosmos IBC blockchains via the platform, according to Cointelegraph. USDC will be the first “native, fiat-backed stablecoin that is extremely liquid and completely collateralized” on a Cosmos Inter-Blockchain Communication Protocol-connected network, according to the Noble team. Circle, a bitcoin firm, is said to have shared this post.

Circle Has Big Plans For Cosmos

“We are thrilled to be bringing USDC to @Cosmos!” Circle, a cryptocurrency firm, tweeted, “USDC is scheduled to launch on @noble xyz shortly, stay tuned for details.” Nevertheless, neither Circle nor Noble has declared a definite launch date for the USDC, according to Cointelegraph.

According to Cointelegraph, USDC might be the first “native, fiat-backed stablecoin that is extremely liquid and completely collateralized,” according to Noble Network. Over the next months, the integration will stimulate hundreds of millions of dollars in liquidity in Cosmos and will strive to address the issues that users and app chains encounter when engaging with bridging assets derived from other ecosystems.

“Every blockchain requires a canonical and fungible version of USDC, and Noble exists to meet this fundamental requirement,” said the Noble team. Furthermore, researchers think Cosmos is a web of interconnected blockchain networks capable of moving assets across networks inside its ecosystem. Injective Protocol, along with Kraken Ventures, Pantera Capital, and Jump Crypto, launched a $150 million fund in January 2023 to promote Cosmos user adoption.