Flow Network to Include Compatibility with Circle’s USDC

Circle, a payments company and principal operator of the USD coin (USDC), is now being supported on the Flow network, a Web3 platform originally created by Dapper Labs. Circle partnered with Dapper in 2020.

A global internet finance firm, Circle offers internet-based payments and infrastructure. The Flow network’s landscape includes numerous NFT projects, including NBA Top Shot, BALLERZ, Matrix World and others.

“Flow has emerged as the go-to destination for thriving communities of developers, artists, creators and brands building their own blockchain-based digital media and entertainment experiences,” said Jeremy Allaire, CEO and co-founder of Circle.

Allaire added that Circle’s capabilities will streamline the payments process while also empowering “creators and consumers to participate in this blossoming ecosystem.”

See also: Circle Details Plans for Using USDC to Advance Financial Inclusion

USDC has experienced super-fast growth worldwide, with circulation topping $49 billion in January, and is among the quickest growing dollar digital currencies. Having the USDC on Flow will help advance the growth of its blockchain community by boosting customer experience and driving the expansion of the DeFi ecosystem.

“Flow led the NFT mainstream adoption with innovative platforms like NBA Top Shot and many others. Millions of users will be introduced to innovative DeFi products for the first time on Flow, where USDC will play a vital role,” said Mik Naayem, co-founder and chief business officer at Dapper Labs.

“USDC is the most trusted dollar digital currency, and by making it available to all developers on Flow, it will continue to catalyze mainstream adoption of dApps,” Naayem added.

Read more: In Winning DeFi, Circle’s USDC Shows It Can Be the No. 1 Stablecoin

Aside from Flow, Circle also supports USDC on the Ethereum, Algorand, Solana, Stellar, TRON, Hedera and Avalanche blockchains.

The USDC is the leading dollar digital currency with more than $1.6 trillion in on-chain transactions as of January.