Polymarket Partners with Circle to Integrate Native USDC
Circle has partnered with Polymarket to integrate its native USDC as the primary collateral currency for trading, enhancing the platform's settlement infrastructure. This move is significant as it transitions from using bridged USDC to native USDC, potentially increasing the efficiency and reliability of transactions on Polymarket. The partnership highlights the growing importance of stablecoins in decentralized finance.
Circle announced on Thursday, Feb. 5, that it has partnered with Polymarket, the largest on-chain prediction market by trading volume, to provide its U.S. dollar stablecoin settlement infrastructure.The partnership focuses on integrating Circle’s stablecoin USDC as the primary collateral currency for trading on Polymarket. The prediction market, which operates on Polygon, currently uses Polygon Bridged USDC (USDC.E), but will move to native USDC “in the coming months.” With a supply of $70.77 billion, Circle’s USDC is the second-largest stablecoin by market capitalization after Tether’s USDT.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Comments
Log in to comment