USDC Stablecoin Coming To The Polygon Network

JAKARTA – USDC stablecoin developer Circle is reportedly bringing USDC to the Polygon network. The integration of USDC into the Polygon network makes it easy for users.

Whereas previously, users who wanted to use the Polygon network had to move USDC from Etherum to Polygon first. USDC's entry into the Polygon network cuts transfer times like never before.

Hence traders only need to convert fiat to Polygon network USDC stablecoin directly. Polygon founder, Sandeep Nailwal, stated that Polygon USDC allows businesses and cryptocurrency exchanges to get more cost-effective transactions.

Meanwhile, according to Circle CEO Jeremy Allaire, the USDC stablecoin continues to improve its interoperability. For information, USDC is published on the Ethereum network, Stellar, Algorand and a number of other blockchains.

Currently USDC ranks fourth among the top five cryptocurrencies based on its market capitalization of IDR 78.8 trillion. USDC is below USDT, Ethereum, and Bitcoin.

Previously, at the World Economic Forum, Jeremy Allaire stated the importance of digital money in today's internet world. The second largest stableecoin boss believes that excessive oversight can be a barrier to the payment system.

The US Securities and Exchange Commission (SEC) and a number of other financial regulators keep a close eye on cryptocurrencies. According to USDC bosses, this has hampered the adoption of digital money.

“Many of the policy and regulatory issues that limit the power to move money have to do with stripping people of their economic freedom… Governments have to accept that people want digital money, and this is the product they want,” Allaire said.

Furthermore, he also commented that the lack of infrastructure that supports digital wallets could hinder the adoption of the digital currency itself. Allaire describes the payment system of the future as being as easy as sending an email or making an international phone call.