Noble, a startup specialising in the token protocol, has announced a strategic partnership with Circle Financial to integrate USDC, the second-largest stablecoin, into the Cosmos blockchain. This integration will pave the way for more than 50 Inter-Blockchain Communication (IBC) networks to access Circle’s USDC stablecoin. By collaborating with Circle Financial, Noble aims to expand the usability of USDC and improve access to stablecoins for the Cosmos ecosystem. This move will increase the efficiency and speed of transactions while maintaining the stability of USDC.
New Milestone for Cosmos Blockchain: USDC to be Natively Supported
Noble, a token issuance protocol startup, has recently announced that USDC, the second-largest stablecoin, will be natively supported on the Cosmos blockchain. This move comes as part of a partnership with Circle Financial, a leading fintech company that offers a suite of stablecoins.
The Cosmos network is known for its Inter-Blockchain Communication (IBC) protocols, which allow different blockchains to interact with one another. With the integration of USDC into the Cosmos blockchain, more than 50 IBC-enabled blockchains can access the stablecoin natively.
In a blog post, Noble described its protocol as an “app-chain purpose-built for native asset issuance in Cosmos and the boundless IBC ecosystem.” By partnering with Circle Financial, Noble aims to expand the usability of USDC and improve access to stablecoins for the Cosmos ecosystem. This can increase the adoption and usage of USDC among a broader range of users and applications.
“This is a huge moment for our ecosystem,” Noble stated in a recent announcement. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully collateralised. For the first time in Cosmos history, 50+ IBC-enabled blockchains will soon be able to access USDC natively via IBC.”
Circle Financial confirmed the partnership and expressed excitement about bringing USDC to the Cosmos ecosystem. “We’re excited to bring USDC to Cosmos,” the company said. “USDC will launch on Noble soon; stay tuned for details.”
Eight blockchains are hosted natively on USDC, including Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. In addition, four other blockchains are also bridged, including Arbitrum, Near, Fantom, and Polygon. Previously, USDC was bridged to Cosmos.; it was not hosted in a native manner. The new native support for USDC in Cosmos is expected to help overcome challenges associated with bridging techniques and provide faster and more efficient transactions.
Noble also stated that the integration of USDC into Cosmos will catalyse hundreds of millions of dollars in liquidity over the coming months. It will attract more users and developers to the Cosmos ecosystem and increase the overall value proposition of USDC.
The official launch date for USDC on Noble has yet to be announced, but Noble has promised further announcements on asset integrations, including the official launch date for USDC on Noble. With the integration of USDC into the Cosmos blockchain, the world of decentralised finance (DeFi) is set to benefit from increased interoperability and liquidity, which are critical for the growth and sustainability of the ecosystem.