The price of an Ethereum (ETH) challenger is surging after global internet finance firm Circle announces native support for USD Coin (USDC) on the smart contracts platform.
In a new blog post, Avalanche (AVAX) announced their USDC integration to enable more seamless transactions and payment options for developers and users of decentralized finance protocols, enterprise applications and non-fungible token marketplaces.
The integration comes after Centre Consortium, which governs USDC, announced in June that it is enabling members to issue USDC on ten additional blockchain platforms, namely Avalanche, Celo (CELO), Flow (FLOW), Hedera (HBAR), Kava (KAVA), Nervos Network (CKB), Polkadot (DOT), Stacks (STX), Tezos (XTZ) and Tron (TRX).
Says Circle’s CEO and co-founder Jeremy Allaire,
“With USDC as the leading dollar digital currency for the decentralized economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto.”
Circle says that support for USDC will be available on Avalanche’s C-Chain, the default smart contract blockchain for creating Ethereum-compatible applications and assets.
Following the announcement, AVAX skyrocketed from $78.80 to a high of $109.13 in two days. At time of writing, the token is trading at $102.02.
