Circle, the issuer of the arena’s 2d-most attention-grabbing stablecoin by market cap USDC, plans to have the first seamless bridged-to-native USDC upgrade rolled out on layer 2 blockchain Linea.
In an announcement on Mar. 5, Circle stated the zero-files powered Ethereum (ETH) layer 2 stands out as the first blockchain to envision USDC (USDC) upgrade. Linea is decided to trot from a bridged model of USDC to a local model.
Circle supplied the Bridged USD Traditional in November 2023 and since then, the stablecoin has became one in all maybe the most bridged assets at some level of the crypto ecosystem.
New blockchains on the total deploy the bridged model of the on the 2d $56 billion stablecoin in their testnet or mainnet atmosphere. Circle has, within the previous, added native strengthen to several EVM blockchains, rollups and diversified L2 platforms.
Nonetheless, Linea is decided to be the first blockchain community to have its bridged USDC, or USDC.e, upgraded seamlessly to native issuance. It ability deployment that provides the security of being entirely reserved and redeemable 1:1 for U.S. greenbacks.
“We’re making historic previous with Circle by being the first to upgrade from bridged to native USDC with zero disruption. The an identical contract address, no liquidity fragmentation, staunch sooner, extra staunch transactions—right here’s what building a seamless blockchain infrastructure appears like,” Linea posted on X.
The upgrade will scrutinize a bridging cease for USDC.e on March 16, 2025. Nonetheless, USDC.e will dwell usable in on-chain actions such as trading, spending and swapping.
As Circle notes in its blog put up asserting the native USDC open on Linea, strengthen also ability access to the stablecoin issuer’s Execrable-Chain Transfer Protocol.
Circle will also add CCTP V2 strengthen for Linea after the zkEVM L2’s native USDC open, connecting it to Ethereum, Avalanche and Execrable for immoral-chain transfers.
Launched by Consensys, Linea has considered distinguished growth since its mainnet went dwell in July 2023. The assorted of decentralized capabilities on the community has surpassed 400, with extra than $250 million in transactions.
Spend instances seeing valuable growth contain decentralized finance, gaming, non-fungible tokens and digital identification, amongst others. The L2 leads because the cease zkEVM by entire price secured and, per DeFiLlama, on the 2d boasts extra than $190 million in entire price locked.
