A preview to the upcoming launch of native USDC to the NEAR ecosystem.
Welcome to #StableSeptember, a series where we provide a preview of what it means to bring native USDC to new blockchain ecosystems. Take a look below for what you need to know about the upcoming launch of USDC on NEAR.
What you need to know
USDC issued by Circle will be native to NEAR and can be considered the official form of USDC for the ecosystem. Over time, native USDC liquidity may grow and replace the currently circulating bridged USDC (known as USDC.e) liquidity that comes from Ethereum.
Benefits of native USDC
- Fully reserved and always redeemable 1:1 for US dollars
- Enables institutional on/off-ramps
On launch day for native USDC, NEAR will share details on the ecosystem apps that will offer easy ways to seamlessly swap from bridged USDC.e to USDC.
Bridged USDC from Ethereum
- Token Symbol: USDC.e
- Token Address: a0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.factory.bridge.near
Native USDC issued by Circle
- Token Symbol: USDC
- Token Address: 17208628f84f5d6ad33f0da3bbbeb27ffcb398eac501a31bd6ad2011e36133a1
NEAR will work with ecosystem apps to provide a smooth transition of liquidity from USDC.e to USDC over time. There will be no immediate changes to the NEAR Rainbow Bridge and it will continue to operate normally.
Native USDC on NEAR will be here before you know it! Please reach out on Discord if you have any questions. Stay tuned for more updates during #StableSeptember.
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