Taking pride in being a top-tier decentralized blockchain ecosystem, Tezos has proudly announced its plans to add support for the popular stablecoin project, USD Coin, in the future to enhance the trading experience for its global community.
Founded in 2013, USDC stablecoin stands tall as one of the most trusted digital currencies globally with a strong market presence. The token is helmed by a consortium named Centre, launched as a partnership project between payment firm Circle and Coinbase cryptocurrency exchange. The entity claims that each USD token is pegged against a dollar stored in reserve to ensure the safety of funds for those who have invested there. The team will release the information about the integration of USDC on Tezos soon. With the recent partnership with Tezos, USD will be seamlessly available for trading on the highly efficient PoS blockchain network with on-chain governance tactics.
According to the market data, Tezos managed to pull more than 2 million contract connections in June, supported by the fast-emerging domains of DeFi and NFT across the industry. This month Tezos completed its three-year-long journey in the sector and unanimously became one of the longest PoS supported blockchain channels. The user-friendly infrastructure of Tezos has helped the firm grow its operational capabilities to 1,200 percent in the past few months. There have been six upgrades on the channel to manage the fee, enhance standards and speed.
The network has become the first choice for music brands, comic creators, sports agencies, game creators, financial institutions, etc. Tezos is the owner of renowned NFT space, Hic Et Nunc, and is evolving as a trusted solution in the DeFi space. The project was recently chosen for strategic collaboration with two popular F1 sports teams named Red Bull Racing Honda and McLaren Racing.
The stablecoin industry is proliferating with constant support from new as well as experienced investors from thriving ecosystems. USDC has managed to sustain its top position over all these years of operation in the domain. It recently crossed a market capitalization mark of $25 billion, which reflected its control in the industry. The coin is widely adopted by top exchanges, wallets, payment solutions, etc., as a convenient and reliable source of settlement. The open-source and secured infrastructure of USDC helps investors interact between fiat and digital currencies easily in a decentralized cluster.