New stablecoins added to Noble network: Circle to start USDC issuance 

Reportedly, the exact dates for the launch have not been revealed to the audience

As per sources, Cosmos is an interconnected web of blockchain networks
As per sources, Cosmos is an interconnected web of blockchain networks

Noble Network, an international trading platform, posted that USD Coin (USDC) will be available soon to all 50-plus Cosmos IBC blockchains through the platform, stated Cointelegraph. Reportedly, this post was shared by Circle, a cryptocurrency company.

“We’re excited to bring USDC to @Cosmos! USDC is expected to launch on @noble_xyz soon, stay tuned for details,” Circle, a cryptocurrency company, tweeted. However, neither Circle nor Noble has announced the exact date of the USDC’s launch, added Cointelegraph. 

As reported by Cointelegraph, USDC may be the first “native, fiat-backed stablecoin that is highly liquid and fully collateralised,” Noble Network stated. “The integration will catalyse hundreds of millions of dollars in liquidity over the coming months in Cosmos, and will seek to rectify the challenges that users and app chains face when interacting with bridged assets sourced from other ecosystems. Every blockchain needs a canonical and fungible version of USDC, and Noble exists to fulfil this critical need,” Noble team mentioned. 

Moreover, experts believe Cosmos is an interconnected web of blockchain networks that can move assets between networks within its ecosystem. In January, 2023, Injective Protocol inaugurated a $150 million fund to develop Cosmos’ user adoption, which was supported by Kraken Ventures, Pantera Capital, Jump Crypto, among others. 

(With insight from Cointelegraph)

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First published on: 29-03-2023 at 13:43 IST