According to 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 launch. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks.
Native USDC support is coming to Cosmos Blockchain
Noble, a token issuance protocol startup, has revealed that the Cosmos network of IBC protocols will support USDC. The team inserted Noble last week in a blog post describing the protocol as an “application chain designed specifically for native asset issuance on Cosmos and the unlimited inter-blockchain (IBC) communication ecosystem.” Tuesday, noble Announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem.
“This is a great time for our ecosystem,” Noble said Tuesday. “Cosmos has never had a native fiat-backed stablecoin that is highly liquid (and) fully collateralized. For the first time in Cosmos history, more than 50 IBC-enabled blockchains will soon be able to access USDC natively through IBC,” Noble added. Circle Financial also confirmed the partnership on Tuesday and saying, “We are excited to bring USDC to Cosmos. USDC is expected to launch in (Noble) soon, stay tuned for more details.”
After USDC goes native to Cosmos, it will be the ninth blockchain where the stablecoin is hosted natively. USDC is currently natively hosted on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. Additionally, USDC is connected to Arbitrum, Near, Fantom, and Polygon. While previously connected to Cosmos, it was not natively hosted. Noble says this new native support will help overcome challenges with bridging techniques.
“This integration will catalyze hundreds of millions of dollars in liquidity over the next several months at Cosmos and will seek to rectify the challenges that users and application chains face when interacting with bridged assets,” Noble detailed. Neither Noble nor Circle have revealed the official launch date, but Noble stated that more announcements regarding asset integrations are coming, including the official USDC launch date at Noble.
What impact do you think the integration of USDC into the Cosmos blockchain will have on the overall stablecoin market? Share your thoughts on this topic in the comments section below.
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