USDC is spreading. L’USDC is a stablecoin issued by the company Circle. With a market capitalization of $26 billion, USDC is the second largest stablecoin in the ecosystem. Now it continues its expansion by joining Basics and Optimism.
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USDC is coming to Base and Optimism
For several months, Ethereum L2s have been at the center of attention. Recently, it is Base, the L2 of Coinbase, which has attracted the most enthusiasm.
On September 5, Circle teams announcement THE USDC deployment native on layers 2 Base And OP Mainnet (formerly Optimism).
Until now, these two networks did not have USDC native on their channel. Indeed, it was only accessible via tokenized versions, in particular issued by bridge protocols.
“Companies and institutions can access the entry and exit ramps for USDC on OP Mainnet and Base with Circle Account. Circle Account also makes it easy to deposit USDC from one chain and withdraw USDC to another chain, avoiding the costs and delays of interconnecting lock and coin systems. »
Circle
In practice, this news is not very surprising. Indeed, on August 22, Coinbase has joined the capital of the Circle company, which has itself taken over responsibility for the governance and operations historically provided by the Center Consortium. On this occasion, the two companies announced the upcoming deployment of USDC on six additional blockchains.
So, Coinbase now has shares in USDC, which implies a logical integration of the stablecoin on its layer 2 Base. On his side, OP Mainnet use the same tech stack than Base, namely the OP Stack. Therefore, the deployment on Base can be identically replicated on OP Mainnet.
In parallel, Base and Optimism have reached an agreement. As a result, Base has pledged to donate 15% of its profits to the Optimism Collective. For its part, Optimism will allocate 118 million OP tokens to Base over six years.
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