Customers can use TRON USDC across all Circle products
Today we’re thrilled to announce that USD Coin (USDC) is now available on the TRON blockchain, bringing the world’s fastest-growing dollar digital currency to one of Asia’s largest digital asset ecosystems. TRON is a powerful, proven ecosystem that has processed more than 2 billion transactions since launching in 2017. The TRON blockchain can coordinate up to 700 transactions per second, and currently hosts more than 830,000 smart contracts and more than 40 million accounts. TRON is also the leading platform for stablecoins, with more than $30 billion already in circulation within the TRON ecosystem.
“TRON has built a very large and highly successful blockchain platform and network, and is one of the most widely used in stablecoin transactions. We’re excited to bring the benefits of a trusted dollar digital currency such as USDC to this growing ecosystem of users and developers.”
—Jeremy Allaire, CEO and Co-founder of Circle
The launch of TRON USDC also brings access to the Circle Account and the full suite of Circle APIs for transaction and treasury services, giving developers access to industry leading on- and off-ramps from fiat currency within the traditional financial system using wire, ACH and card based payments. The Circle Account is the starting place for all Circle products and services, settling funds in USDC and allowing easy USDC transfers among different supported blockchains.
“I'm thrilled to have support for USDC on TRON because there's unending demand for the world's fastest-growing stablecoin and I cannot wait to see what end users are able to do with USDC." TRON Founder Justin Sun said.
TRON has become one of the fastest-growing blockchain networks in the world thanks to fast transaction speeds and high transaction throughput, alongside some of the lowest transaction costs in the industry and an active developer community.
TRON is now also a part of our Multichain Partner Program, an initiative to enable greater interoperability and USDC liquidity across blockchains to deliver on Circle’s mission of raising economic prosperity around the globe. This provides ecosystem partners with a swap facility for USDC across supported blockchains, allowing for interoperability and more seamless customer flows across traditional and crypto finance applications.
Support for TRON USDC is available across all Circle products including the Circle Account and APIs. Customers can convert into TRON USDC with a transfer from a bank account, send TRON USDC, receive USDC from TRON addresses, as well as convert TRON USDC back to a bank account.
Support is available across Payments, Payouts and Accounts APIs, with equivalent features to other supported blockchains (Ethereum, Algorand, Solana and Stellar).
Does it cost money to convert between tokens?
No. There is no cost to convert across blockchains. Circle uses a free “swapping mechanism” that acts as a bridge across supported USDC chains, allowing Circle customers to exchange USDC on one supported blockchain for USDC on another supported blockchain by sending to and from Circle addresses.*
Why is this an important milestone?
Support for TRON across the Circle APIs is a critical step forward in our effort to bring USDC across multiple blockchains. Expansion on TRON brings developers’ innovations in speed, scale and cost efficiency that address the rapidly expanding financial and consumer use cases for stablecoins.
*After Customer generates one deposit address for converting across blockchains, Circle will charge a fee of $100 for each additional deposit address.