Hassan Maishera
USDC, the second-largest stablecoin in the world, with a market cap of nearly $75 billion, is one of the most widely used payment methods in the crypto ecosystem. Its issuer, Circle, is listed on the stock exchange, making it one of the handful of crypto companies in the U.S. to be publicly listed.
Space and Time Foundation is now leveraging USDC’s growth and reach to ease cryptocurrency payments for its users.
Space and Time Integrates USDC Payments
Space and Time Foundation has announced its support for the USDC stablecoin on the Space and Time network. In a press release shared with Cryptowisser, Space and Time added that this integration will enable smart contract developers to pay for zero-knowledge (ZK) coprocessing workloads using USDC.
The ease of payments will unlock new possibilities for building onchain applications. Space and Time is the blockchain for ZK-proven data, powered by Proof of SQL, the first sub-second ZK coprocessor.
According to the team, the system is optimized to execute SQL database queries over millions of rows of data, enabling smart contracts to transact using real-time, ZK-proven data from onchain and offchain sources.
USDC Integration to Ensure Payments with Stable Value
Space and Time is crucial for developers as it allow them to build expressive onchain applications that integrate verifiable data from multiple sources. The system feeds ZK-proven results directly into smart contracts.
By adding support for USDC as a payment method, developers can now use Space and Time’s ZK coprocessor without dealing with the price volatility of other cryptocurrencies. Space and Time revealed that USDC payments on its blockchain are automatically converted into SXT, the network’s native token, for use within the protocol.
While commenting on this integration, Scott Dykstra, Co-Founder of Space and Time, said supporting USDC payments on Space and Time is a huge milestone for the SXT ecosystem.
“We’re focused on empowering developers to build secure, expressive applications onchain with the industry’s first sub-second ZK coprocessor, and the integration of USDC unlocks a smoother, more efficient way to power smart contracts and onchain apps at scale,” Dykstra added.
Brian Schultz, Vice President, Corporate Development and Circle Ventures at Circle, stated that they are excited to see USDC live on Space and Time as the platform is a leader in zero-knowledge infrastructure.
Schultz added that Circle is focused on supporting teams that are building foundational technologies that make digital assets more usable, programmable, and trusted across the Web3 ecosystem.
This latest development comes roughly three months after the digital asset investment firm Grayscale launched the Grayscale Space and Time Trust to provide exposure to the SXT token.
