Circle’s USDC Stablecoin Officially Goes Live on Layer-1 Chain Aptos (APT)

Circle’s dollar-pegged stablecoin USDC has officially gone live on the layer-1 chain Aptos (APT).

Aptos’ native token, APT, is up on the news, surging by 5.5% in the past 24 hours.

The 38th-ranked crypto asset by market cap is trading at $7.91 at time of writing.

Coinbase, the top US crypto exchange, has already added Aptos-native USDC to its listing roadmap.

In November, Aptos first announced that it planned to integrate USDC, as well as the fintech giant Stripe’s payment services.

Stripe will provide a fiat on-ramp for the Aptos network. The payments firm reemerged in the crypto sector in October when it rolled out support for USDC settlements. It had previously enabled payments made using Bitcoin (BTC) until 2018, when the firm discontinued its support, citing BTC’s lack of utility as a payments rail.

Native USDC stablecoins are officially issued by Circle and are redeemable 1:1 for US dollars. USDC is the second-largest stablecoin with a market cap of more than $53 billion, second only to Tether’s USDT, which has a market cap of nearly $140 billion.

Despite its gains in the past day, APT remains down by more than 5% in the past seven days and more than 10% in the past month.

 

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 losses 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.

Generated Image: Midjourney