Circle announced the launch of its USDC stablecoin on the Polygon network.
This initiative marks the launch of the first bridged version of USDC. Prior to this, users would have to bridge USDC from the Ethereum network to Polygon, but this is no longer necessary.
With the arrival of USDC at Polygon, traders can convert their fiat deposits to USDC through the Circle Account.
Polygon co-founder Sandeep Nailwal said that USDC at Polygon will allow businesses and crypto exchanges to pay at low costs.
Circle CEO Jeremy Allaire said that with this move, USDC has further increased interoperability.
USDC is also involved in Stellar and Algorand networks besides Ethereum.
USDC, with a market cap of $53 billion, is the fourth largest cryptocurrency after Bitcoin, Ethereum and USDT.
Last month, USDT announced adding support for the Polygon network.
