USDC is now available on NEAR

USDC is now available on NEAR

USDC Multi-Chain

USDC on NEAR is now live! We’re announcing that USDC is now available natively on NEAR and accessible from Circle Account and Circle APIs. Developers can now take advantage of the speed and scalability of the NEAR blockchain to build fast, user-friendly apps with USDC and coded in popular programming languages like JavaScript and Rust.

 

About NEAR Protocol

NEAR Protocol is a high-performance blockchain that features frictionless user onboarding and a unique scaling solution built on sharding technology to deliver low-cost transactions that can settle in seconds.1

 

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 NEAR, there also exists a “bridged” form of USDC known as USDC.e, which is USDC that’s been bridged from Ethereum. Bridged USDC (USDC.e) is not issued by Circle and is not compatible with Circle Account or Circle APIs.

 

Bridged USDC from Ethereum:

 

Native USDC issued by Circle:

(Note: Please do not attempt to send bridged USDC.e on NEAR to your Circle Account, as it may not be recoverable and could result in a loss of funds.)

NEAR Foundation will be working with ecosystem partners to help facilitate the migration of liquidity from bridged USDC to native USDC.

 

Powering new use cases

Exchanges, digital wallets, institutional traders, and developers can access USDC on NEAR via the Circle Account and Circle APIs for a number of use cases:

 

  • Making low cost payments and remittances globally in seconds
  • 24/7 trading, borrowing and lending on apps like Burrow, Orderly, and Ref Finance
  • 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 NEAR by applying for a Circle Account.

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


1 near.org (Last accessed September 3, 2023)

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