Circle and the Monad Foundation has announced that USDC, which has $60 billion in Stablecoin natively available on most blockchains in Crypto space, will be released on the Monad chain on the first day of the mainnet. Monad, an L1 blockchain aimed at enabling parallel execution on Ethereum virtual machines with 10,000 transactions per second, is currently on the testnet.
In addition to Stablecoin, Circle plans to implement Circle Wallets and the CCTP V2 protocol into the developer ecosystem of blockchain networks. This means that the circle supports the growth of the Monad network by allowing developers to access USDC’s deep liquidity and trustworthy settlements. It allows developers to build and deploy high-performance applications for decentralized finance, gaming, and payments.
CCTP V2, an upgrade to the circle’s cross-chain transfer protocol released in March, enables fast, configurable USDC transfers. The improved CCTP V2 uses high-speed transfers and hooks to reduce USDC payment times for Ethereum and Layer 2 networks to seconds. These features are now available to Monad users on the mainnet. Circle’s Monad support includes Cill Wallets. It is a service that offers flexible wallet integration with decentralized applications.
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