Native USDC now available on Polygon PoS

Native USDC now available on Polygon PoS

USDC Multi-Chain

USDC on Polygon PoS is now live! We’re announcing that USDC is available natively on Polygon PoS and accessible to developers and users – no bridging required. Circle Mint and Circle APIs now fully support USDC on Polygon PoS, making it easy to access USDC liquidity and benefit from Polygon PoS’ fast and efficient network.

 

About Polygon PoS

Polygon PoS is a scalable proof-of-stake (PoS) blockchain that complements Ethereum’s decentralized security with faster settlement times and greater cost efficiency. Businesses and developers can create applications with USDC on Polygon PoS that appeal to the general public and benefit from near-instant, near-zero cost transactions worldwide.1 

As of October 2023, the Polygon PoS ecosystem includes 475+ dApps and over 300,000 active wallet addresses.2 Businesses and developers interested in designing for mainstream user experiences can now choose USDC on Polygon PoS for payments, remittances, trading, borrowing, lending and more.

 

Understanding native vs. bridged

Circle brings USDC natively to new blockchain networks to empower developers to build on a stable foundation they can trust. Native USDC is officially issued by Circle and is always redeemable 1:1 for US dollars.

In the case of Polygon PoS, there also exists a “bridged” form of USDC known as USDC.e, which is USDC that has been bridged from Ethereum. Bridged USDC (USDC.e) is not issued by Circle.

 

Bridged USDC from Ethereum

 

Native USDC issued by Circle

On November 10th, Circle will discontinue support of deposits and withdrawals for bridged USDC.e on Polygon PoS for Circle Mint and its APIs, including Express. After that time, only native USDC will be supported moving forward.

This means after November 10th, you should not attempt to send bridged USDC.e to your Circle Mint account, as it may not be recoverable and could result in a loss of funds.

To learn more about the discontinuation of support for bridged USDC.e in Circle Mint and its APIs, please see our Help Center article.

 

Powering new use cases

Exchanges, digital wallets, institutional traders, and developers can access USDC on Polygon PoS via Circle Mint and Circle APIs for a number of use cases:

 

  • Making low-cost payments and remittances globally that can settle in seconds
  • 24/7 trading, borrowing, and lending on apps like Aave, Uniswap, and Quickswap
  • Enable users to hold savings in digital dollars without needing a traditional bank account

Get started today

Businesses can readily access on/off-ramps for converting fiat currency to USDC on Polygon PoS by applying for Circle Mint.

Developers can start building with USDC on Polygon PoS with our developer docs – USDC is an open-source, permissionless protocol that anyone can build on.



1 https://polygon.technology/polygon-pos  (Last accessed October 2, 2023)

2 https://defillama.com/chains (Last accessed October 2, 2023)

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