Circle, a fintech company, has announced that it will support Web3 services for the Layer 1 Blockchain network Solana.
Circle stated that this latest development highlighted the importance of stablecoins like USDC to a more inclusive economy. financial landscape.
- USDC is a stablecoin that can be used by both developers and enterprises. The goal of the company is to make USDC accessible to all, while highlighting the importance to provide the tools necessary to seamlessly integrate USDC into different applications.
- Circle announced the addition of Web3 Services to Solana. Businesses can use APIs for secure wallets or interactions with smart contracts, as well as manage transactions on-chain. Circle also said they could ensure an easy user experience by integrating onboarding flows and transaction flow.
- The Official tweet read,
“With a thriving USDC ecosystem and a vibrant developer community, we’re excited to work with businesses and developers to build and launch innovative apps on Solana.”
- This year, the stablecoin industry has experienced tremendous growth. USDC alone has seen a nearly 10% rise in supply over the past one month.
- The announcement is made at a moment of great turmoil within the Solana eco-system.
- The network is a dominant player on Layer 1, but its success has led to major congestion problems.
- Some industry participants view the current challenges faced by Solana in terms of “existential Recent data suggests that 75% of the FTX index has collapsed. “non-vote” The highest ever negative percentage of transactions recorded on a network.
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Source: cryptopotato.com
