USDC, the second-largest stablecoin by market capitalization, has officially expanded to Base and Optimism networks. The move was announced by Circle on Wednesday.
Base is a Layer 2 (L2) network that is built on top of Ethereum. It offers faster and cheaper transactions than the Ethereum mainnet. Optimism is another L2 network that is also built on top of Ethereum. It offers similar benefits to Base.
The expansion of USDC to Base and Optimism will make it easier for users to transfer and use the stablecoin on these networks. It will also make it more attractive for DeFi applications to be built on these networks.
Circle said that it is working with “ecosystem partners” to develop a system that will allow users to exchange old and bridged versions of USDC for the new native versions.
The expansion of USDC to Base and Optimism is a significant development for the stablecoin ecosystem. It shows that USDC is committed to expanding its reach and making it more accessible to users. It also highlights the growing importance of L2 networks in the Ethereum ecosystem.
