The price of an Ethereum (ETH) challenger is surging after global internet finance firm Circle announces native support for USD Coin (USDC) on the smart contracts platform.
In a new blog post, Avalanche (AVAX) announced their USDC integration to enable more seamless transactions and payment options for developers and users of decentralized finance protocols, enterprise applications and non-fungible token marketplaces.
The integration comes after Centre Consortium, which governs USDC, announced in June that it is enabling members to issue USDC on ten additional blockchain platforms, namely Avalanche, Celo (CELO), Flow (FLOW), Hedera (HBAR), Kava (KAVA), Nervos Network (CKB), Polkadot (DOT), Stacks (STX), Tezos (XTZ) and Tron (TRX).
Says Circle’s CEO and co-founder Jeremy Allaire,
“With USDC as the leading dollar digital currency for the decentralized economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto.”
Circle says that support for USDC will be available on Avalanche’s C-Chain, the default smart contract blockchain for creating Ethereum-compatible applications and assets.
Following the announcement, AVAX skyrocketed from $78.80 to a high of $109.13 in two days. At time of writing, the token is trading at $102.02.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Natalia Siiatovskai/Tithi Luadthong