Hassan Maishera
The Fantom Foundation announced via X on Thursday that its USDC.e stablecoin will launch today, April 5. USDC.e on Wormhole is bridged from native $USDC, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future.
By leveraging the Wormhole Native Token Transfers (NTT) standard, USDC.e will be available to all users and developers on Fantom, the team added. Developers can build on bridged USDC with a contract address that will persist even if there is an upgrade to native USDC.
Meanwhile, users can store, pay, trade, borrow, and lend with bridged USDC that would automatically become native USDC should there be an upgrade. Finally, if Circle and Fantom agree to upgrade to native USDC, all USDC.e tokens seamlessly transition to native USDC without the need for developers to update any contract addresses or swap to the new asset.
Fantom is building a programmable platform on a directed acyclic-graph-based distributed ledger. Fantom’s FTM coin is down by less than 1% in the last 24 hours and is currently trading at $0.8218.
