Circle Deploys USDC on Sui’s Blockchain
Jeremy Allaire, co-founder and CEO of Circle, has announced that USD Coin (USDC), the second-largest stablecoin, will soon be available on Sui network, a layer-1 (L1) blockchain.
This news expands the use of USDC across 15 different blockchain networks.
Allaire shared this announcement on X social media platform on September 17, re-posting the announcement from Sui network’s ambassador Stravia.sui111.sui.
Through the Cross-Chain Transfer Protocol (CCTP), USDC will be natively supported on Sui network, allowing for seamless transfers of the stablecoin between different blockchain networks through native burning and minting.
Sui network was launched in 2023 and is a Web3 ecosystem platform that simplifies and enhances the development of applications and functions. Its programming language, Move, enables parallel transaction execution.
