As an open standard and public smart contract, USDC has rapidly grown to be one of the largest stablecoin in the world with a market cap of $25 billion.
The stablecoin native to five blockchains namely Ethereum, Stellar, Algorand, Hedera Hashgraph and Solana is set to expand to 10 more blockchain networks.
It’d be the broadest expansion of the $25 billion stablecoin to date, potentially surpassing the eight blockchains that support Tether’s USDT, the market leader with a $63 billion market cap.
“We anticipate that in the coming months USDC will become available on Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks, Tezos, and Tron,” according to a draft announcement from USDC administrator CENTRE
CENTRE, which is a consortium run by crypto exchange Coinbase and payments firm Circle, said expanding to other chains helps “drive individual and enterprise adoption of open blockchain technologies.”