**Circle Launches Native USDC on zkSync Protocol**
Stablecoin issuer Circle has announced the launch of native USDC on the layer-2 Ethereum scaling protocol zkSync. This move provides additional benefits for users and institutions looking to utilize the dollar-pegged stablecoin.
**What Makes Native USDC Different?**
Unlike the USDC that was previously bridged on the platform, native USDC is backed by Circle and offers benefits such as being regulated, fully reserved, and always redeemable 1:1 for US dollars. Institutional customers can also mint and redeem USDC through Circle Mint, making it easy to integrate into existing apps.
**Transitioning to Native USDC**
zkSync has stated that the native USDC will be labeled as USDC, while the existing bridged USDC will be renamed as USDC.e. Over time, native USDC will replace the currently circulating supply of USDC.e, with users and institutions able to swap from USDC.e to USDC on their preferred decentralized exchange.
**Expanding Support for USDC**
With this development, Circle has expanded support for USDC to 16 blockchain networks. The financial technology firm expects leading ecosystem apps and decentralized finance protocols to support native USDC on zkSync for various use cases, including payments, trading, and lending.
**Facilitating Access with Circle Mint**
Businesses and institutions can access on/off-ramps for USDC on zkSync through Circle Mint and its APIs. This makes it easy to deposit USDC from one supported chain and withdraw USDC on another, avoiding the costs and delays of third-party bridging.
**Final Thoughts**
The launch of native USDC on zkSync represents a significant step forward in the adoption of stablecoins within the Ethereum ecosystem. With support from Circle and various ecosystem partners, users and institutions can expect a seamless experience when utilizing USDC for various financial activities.
