The Good Tech Companies - Native USDC Officially Launches on Sui

Episode Date: October 8, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/native-usdc-officially-launches-on-sui. Sui is the first Move language-based blockchain with native USDC Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #sui, #chainwire, #press-release, #sui-announcement, #usdc, #crypto-exchange, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and Circle, the issuer of USDC, today announced that native USDC is live on the Sui Network. Users of Sui will have direct access to one of the most widely used stablecoins as a native asset on the network.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Native USDC officially launches on Sway, by Chainwire. Grand Cayman, Cayman Islands, October 8, 2024, Chainwire, Asterisk Sway, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and Circle, the issuer of USDC, today announced that native USDC is live on the Sway network. With this integration, users of Sway will have direct access to one of the most widely used stablecoins as a native asset on the network, removing the added complexities and risks caused by bridged assets. With the launch of native USDC on Sway, users can now enjoy enhanced liquidity

and security through direct on-chain representation, eliminating the need to bridge USDC on Sway, users can now enjoy enhanced liquidity and security through direct on-chain representation, eliminating the need to bridge USDC and use external bridges. This transition reduces the risks associated with canonical or lock-and-mint bridges, offering a more secure experience for asset transfers. Additionally, the upcoming integration of Cross-Chain Transfer Protocol, CCTP Protocol will enable seamless movement of USDC across supported blockchains, allowing users to transfer assets swiftly and securely between networks, including Sway. The development opens up significant opportunities for decentralized finance applications

on the Sway network, as protocols can now leverage native USDC to offer improved liquidity, reduced friction, and enhanced user experiences. Greater than, Sway's integration of native USDC will bring tremendous benefits to developers greater than and users alike, said Jamil Kalfin, head of ecosystem development at Sway Foundation. Native USDC grants the Sway community easy access to one of the greater-than-world's most stable digital currencies, and the opportunities it unlocks for greater-than-the-ecosystem are endless. Protocols on Sway integrating Native USDC on day one include Aftermath Finance, Cetus,

Deep Book, FlowX, Hop, CREA, Navi Protocol, Scallop, Sweeland, Sway Wallet, Turbos, Typus, and 7K with a number offering swaps from bridged USDC to the new native token. Contact Sway Foundation Media at sway.io. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here, and thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.