Token protocol startup Noble is set to bring the USDC natively to the Cosmos ecosystem, following a March partnership announcement by the company and USDC issuer Circle. However, no additional information on the exact launch date has yet been provided.
We're excited to bring USDC to @Cosmos! USDC is expected to launch on @noble_xyz soon, stay tuned for details. #IBC https://t.co/eqU8wno43F
— Circle (@circle) March 28, 2023
💡 Cosmos, often referred to as the Internet of Blockchains, is a set of technologies and tools that facilitate data sharing and communication across various blockchains. Noble is a blockchain within the Cosmos ecosystem.
The USDC will be the first fiat-backed stablecoin that can be accessed natively via the Cosmos inter-blockchain communication protocol (IBC). According to the announcement from Noble, the move will help increase liquidity and eliminate problems that users are currently facing when working with inter-network assets. At the moment, there are around 50 blockchains functioning within Cosmos.
“This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos, and will seek to rectify the challenges that users and appchains face when interacting with bridged assets sourced from other ecosystems. In the future, we believe that hundreds of highly liquid, well-adopted Cosmos blockchains will exist. Every blockchain needs a canonical and fungible version of USDC, and Noble exists to fulfill this critical need,”- it says in the announcement.
To date, USDC transactions are actively taking place across several blockchains. In addition to Ethereum, where the USDC was originally launched, the stablecoin is now available on blockchains Solana, Tron,Avalanche, Algorand, Stellar,Flow and Hedera, with a total supply of:
While no specific date has been set for USDC's launch on Cosmos, we anticipate this will happen in the near future. We'll continue to Observe the latest developments in this partnership, and keep you updated!
