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Circle, the developer of the USDC stablecoin, is set to launch a native version of its token on the Arbitrum network on June 8.

Arbitrum plans to phase out bridged USDC while launching the native USDC. This move could reshape the platform's stablecoin market cap and trading dynamics.

The company said that users will be able to redeem USDC 1:1 for USD on Arbitrum.

For any decentralized finance or DeFi ecosystem to function efficiently, stablecoins are crucial. They enable liquidity — the easy movement of value from one place to another — with less friction and volatility risk.

Circle Unveils Game-Changing Move: Launches USDC Natively On Arbitrum

Stablecoin provider, Circle Internet Financial, has revealed that its dollar-pegged token, USDC, will be natively introduced on the layer two (L2) blockchain Arbitrum on June 8. The announcement follows Circle's disclosure of its euro-pegged coin, EUROC, merging with the Avalanche blockchain last week.

The launch of USDC on Arbitrum will replace the currently circulating bridged version of USDC that comes from Ethereum.

Circle has announced that it will be launching the USDC stablecoin natively on Arbitrum on the 8th of June, 2023. According to the company, the move will replace the bridged version of the stablecoin from Ethereum, which is currently in circulation.

In a move set to enhance the functionality of the Arbitrum ecosystem, Circle, the “global financial technology company helping money move at internet speed,” has announced the upcoming launch of its stablecoin, USDC, on the platform. Slated for June 8, 2023, this development will replace the existing Ethereum-bridged version of USDC with a native version.

The company expects to bring CCTP to Arbitrum after the launch of native USDC to eliminate withdrawal delays.

Circle said on June 1 that it will soon launch a native version of its USD Coin (USDC) stablecoin on the Arbitrum blockchain. The new version of USDC will be “native to Arbitrum” and added that this asset will be considered Arbitrum's official version of USDC, according to Circle.

Financial technology firm Circle announced on Thursday that the launch of its USD Coin (CRYPTO: USDC) on the Arbitrum (CRYPTO: ARB) platform is June 8. In this new arrangement, USDC issued by Circle will be recognized as the official version within the Arbitrum ecosystem.

USDC stablecoin developer Circle will replace the current version of its token with one running natively on the Arbitrum network.

Starting from yesterday, May 31, 2023, sending USD Coin (USDC), the second largest stablecoin, has become more convenient and resource efficient for users of Coinbase Wallet.

Crypto News: In recent times, crypto industry titan Circle has been on a launch frenzy for its USDC stablecoin on a number of other blockchain networks. The stablecoin issuer made the announcement on Thursday that it is going to introduce USDC natively on the Arbitrum Layer 2 network, rendering it to be the official version

The native Arbitrum-based version of USD Coin by Circle is set to replace the existing token that bridges USDC liquidity from Ethereum (ETH). The token will play an important role in the upcoming cross-chain developments scheduled by Circle.

Stablecoin issuer Circle will launch USDC, its dollar-based stablecoin, on Arbitrum this June 8th. Circle states that this version of USDC will eventually replace the currently circulating bridged version of USDC that comes from Ethereum – which becomes USDC.e.

Circle said that it would deploy USDC natively on Arbitrum, making it the official version in the Layer 2 ecosystem and replacing previously bridged liquidity.

Circle says the benefits of native USDC include new support to eliminate bridge withdrawal delays and the possibility for institutional on and off-ramps

Circle's move to eliminate U.S. Treasury bonds strengthens USDC's resilience, setting a precedent for risk mitigation in cryptocurrencies.

Circle has ditched all U.S. Treasury bonds from the $24 billion reserve fund backing its USDC stablecoin. The move was in response to the ongoing debt ceiling crisis in the United States.

Stablecoin issuer Circle Internet Financial has ditched all U.S. Treasury bonds from its USD Coin (USDC) backing reserves as part of precautionary measures to protect from a potential fallout from the looming U.S. debt ceiling showdown.

The decentralized stablecoin DAI is undergoing a massive shift as MakerDAO reduces USDC exposure and opts for U.S. Treasury bills.

Tether USDT recently announced that it will regularly allocate up to 15 percent of its net realized operating profits towards purchasing Bitcoin as a reserve currency.