Circle Rolls Out USDC on Optimism and Base

Vignesh Karunanidhi
Circle Partners With Philippines Exchange to Boost USDC Remittances
Source: The Block

Circle has introduced support for its USDC stablecoin on two of Ethereum’s most prominent layer 2 scaling solutions – Optimism and Base.

Businesses and institutions can now access on/off ramps for USDC on both the Optimistic Ethereum (OP) mainnet and Base Layer 2 using Circle Account. This makes depositing and withdrawing USDC across different chains simple, avoiding costly “lock and mint” bridging.

Also read: Ripple: Report Shows XRP Stumbling Despite Positive Court Ruling

Developers can leverage native USDC to build applications on a stable foundation with official Circle backing on these scaling platforms. Their improved throughput and lower costs unlock new use cases for USDC.

Users can access OP and Bases USDC from Coinbase

Initially, users can access the OP mainnet and Base USDC from Coinbase and withdraw to EVM-compatible wallets like Coinbase Wallet. The stablecoin issuer plans to expand exchange and wallet connectivity over time.

The move aligns with Circle’s commitment to multi-chain USDC support and meeting developers and businesses where they want to build. It taps into leading layer 2 solutions for capitalizing on Ethereum’s security while improving scalability.

In related news, Circle recently partnered with payments giant Mercado Pago to introduce USDC to customers in Chile, amidst economic uncertainty. The collaboration expands USDC’s presence in Latin America.

Also read: Circle and Mercado Pago Team Up to Offer USDC in Chile

Circle continues working to make USDC accessible across chains and bridges, powering more use cases. Integrations with Optimism and Base bring their scalability and convenience to Ethereum’s booming DeFi ecosystem. Expect multi-chain interoperability to enable further mainstream adoption going forward.