Circle Teases Gateway Launch For Instant USDC Transfers

Stablecoin issuer Circle recently announced that it will soon launch Gateway. This is a new tool designed to provide fast and easy cross-chain liquidity for USDC users, with over $219 billion in trading volume . This initiative aims to enhance the transfer of digital money across various blockchain networks. Gateway to Make USDC Access Seamless Across Blockchains During the announcement , Circle explained that it is hard for users today to use USDC across different blockchains. Users typically rely on third-party bridges to transfer their money, which can be slow, expensive, and sometimes unsafe. For crypto businesses, supporting multiple blockchains means locking up a significant amount of capital and utilizing it inefficiently. To solve this problem, Circle is launching Gateway, a new system that allows users to maintain a single USDC balance. This balance can be used instantly across all supported blockchains. Users just need to deposit their USDC into a non-custodial smart contract. With that one deposit, users can access their funds instantly on any supported network. This eliminates the need to transfer tokens between chains manually or rely on external bridges. Circle said this initiative is designed to make USDC more universal, instant, and easy to use, regardless of the network being used. Gateway Coming Soon to Major Blockchains Circle said that Gateway is more than just a regular feature; it is a new interoperability layer. This means it acts as a system that helps different blockchains work together more efficiently, especially for stablecoin users. This new system is designed to help developers and businesses build apps more easily, send payments faster, and enhance the user experience. Circle plans to launch Gateway in July, starting with test networks on Ethereum, Avalanche, and Base. More blockchains will be added later, depending on demand and their readiness. Circle Sees Fast Growth After Going Public This new product comes shortly after Circle’s successful Initial Public Offering (IPO) , marking a significant step forward for the company. After the listing, Circle’s market capitalization jumped to over $46 billion. Additionally, its stock price increased by more than 500% from its original offering price of $31 per share, surpassing its market value of $62 billion. This new valuation now exceeds its USDC stablecoin circulating supply.. After its successful IPO event, Circle made another big move. Most recently, the company applied for a national banking license in the United States. If approved, this license will let Circle hold its reserves and manage crypto assets for large businesses. This would enable Circle to operate more like a traditional bank while still utilizing blockchain technology. It also demonstrates the company’s goal to integrate traditional finance with the rapidly growing digital economy. The post Circle Teases Gateway Launch For Instant USDC Transfers appeared first on TheCoinrise.com .

Source: The Coin Rise