Circle’s USDC Expands Reach with NEAR Protocol Integration

In a significant move, Circle has integrated native USDC liquidity into the NEAR protocol ecosystem, revolutionizing digital finance.

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  • Circle has unveiled a game-changing development in the crypto world.
  • The NEAR protocol has now become the host for the native presence of USD Coin (USDC).
  • Discover how this integration has revolutionized global payments, trading, and financial services.

Financial technology firm Circle, the USD Coin (USDC) creator, has unveiled native stablecoin liquidity integration within the NEAR protocol ecosystem. This groundbreaking development grants access to USDC on NEAR via Circle Account and Circle APIs, a revelation announced by the company on Wednesday.

Circle Announces USDC Availability on NEAR

Within the confines of NEAR, the pairing of USDC presents an array of possibilities through the utilization of Circle Account and Circle APIs. 

These opportunities span many applications, including cost-effective global payments and remittances, round-the-clock trading, borrowing, and lending facilities, and providing an avenue for individuals to securely store their savings in digital dollars, obviating the need for traditional bank accounts. Circle has explicitly stated its intent with the declaration:

“We are announcing that USDC is now available natively on NEAR and accessible from Circle Account and Circle APIs. Developers can now take advantage of the speed and scalability of the NEAR blockchain to build fast, user friendly apps with USDC.”

Coinbase Backs Circle’s US Expansion in Strategic Crypto Move

This new avenue of access follows Circle’s substantial consolidation of its presence within the US cryptocurrency sphere, bolstered by a strategic investment by crypto exchange giant Coinbase

The strategic significance of this partnership may be underscored by its shared status as a United States-based entity. 

On the Flipside

  • The introduction of USDC on NEAR might also raise questions regarding privacy and data security as users’ financial transactions and holdings become more intertwined with blockchain technology.
  • As USDC finds its way into various blockchain networks, regulatory bodies may intensify their scrutiny, potentially impacting the privacy and anonymity aspects central to cryptocurrencies.

Why This Matters

The integration of native USDC liquidity within the NEAR protocol ecosystem signals a pivotal moment in the evolution of cryptocurrency. It empowers developers to harness NEAR’s speed and scalability, facilitating the creation of user-friendly applications and expanding the utility of USDC, ultimately advancing the crypto industry’s quest for mainstream adoption.

To learn more about the latest advancements in USDC with Circle and OKX, read here:
Circle and OKX Unleash Groundbreaking Advancements for USDC

For information on how Kresus is offering $100K withdrawals with no fees through a USDC off-ramp, click here:
USDC Off-Ramp: Kresus Offers $100K Withdrawals with No Fees

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.