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Phase One of Native USDC Migration on Polygon PoS Commences

Twitter icon  •  Published एक महीने पहले  •  Hassan Maishera

The Polygon Labs team announced via a blog post on Monday that native USDC migration on Polygon PoS is now underway.

The Polygon Labs team announced via a blog post on Monday that native USDC migration on Polygon PoS is now underway. Native USDC means minting and redeeming directly from Polygon PoS.

This latest development means that users are now able to access USDC directly on Polygon PoS, streamlining the process and bringing more value to users. Native USDC comes with a few extremely important perks over a bridged version, including; Mintable and redeemable directly on Polygon PoS, fully reserved and always redeemable 1:1 for US dollars, supported by Circle Account and its APIs, and elimination of bridge withdrawal delays. 

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is down by 6% in the last 24 hours and is currently trading at $1.0015.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.