Token protocol startup Noble has revealed it is partnering with Circle Financial in order to integrate the second-largest stablecoin, USDC, on the Cosmos blockchain. The integration is expected to give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks.
USDC Native Support Coming to Cosmos Blockchain
Noble, a token issuance protocol startup, recently announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem. Last week, Noble had introduced its own protocol in a blog post, which described it as an “app-chain purpose-built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem.” On Tuesday, Noble announced its partnership with Circle Financial to introduce USDC to the Cosmos network.
“This is a huge moment for our ecosystem,” Noble said on Tuesday. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully collateralized. For the first time in Cosmos history, 50+ IBC-enabled blockchains will soon be able to access USDC natively via IBC,” Noble added. Circle Financial also confirmed the partnership on Tuesday, tweeting, “We’re excited to bring USDC to Cosmos. USDC is expected to launch on [Noble] soon, stay tuned for details.”
Following the integration, USDC would become the ninth blockchain where the stablecoin is natively hosted. Currently, USDC is hosted natively on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. It is also bridged to Arbitrum, Near, Fantom, and Polygon. While USDC was previously bridged to Cosmos, this is the first time it will be hosted natively.
“This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos, and will seek to rectify the challenges that users and appchains face when interacting with bridged assets,” Noble detailed. Neither Noble nor Circle have disclosed the official launch date, but Noble stated that further announcements on asset integrations are coming, including the official launch date for USDC on Noble.
What do you think the introduction of USDC on the Cosmos blockchain will mean for the entire stablecoin market? Share your opinions in the comments section below.
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