🚀Great news for all BTC enthusiasts out there! Fintech firm Circle has made its native USDC available on zkSync, the leading layer 2 rollup. This means developers and users can now access USDC without the need for bridging. 🎉

USDC is now supported on a whopping 16 blockchain networks. This is a big deal because several ecosystem applications and DeFi protocols are expected to adopt native USDC on zkSync for various functions, including payments, trading, borrowing, lending, and more.

Among the early adopters is Koi Finance, a prominent zkRollup defi platform built on zkSync Era. Other platforms jumping on the bandwagon include decentralized exchange SyncSwap and lending protocol ZeroLend. 🚀

Circle has highlighted the benefits of using native USDC in financial transactions. As a regulated asset, it provides stability and assurance, being fully backed and redeemable at a 1:1 ratio for US dollars at any time.

Moreover, its native status allows for easy integration into institutional on/off-ramps like Circle Mint, simplifying processes for institutions and users alike. Plus, its compatibility makes it easy to incorporate into existing applications, offering a straightforward solution for businesses wanting to integrate stablecoin functionalities into their platforms. 🙌

It's important to note that there's a difference between native and bridged USDC. Native USDC, officially issued by Circle, maintains a consistent 1:1 redeemability for US dollars. However, there's also a variant of USDC called USDC.e on zkSync, which is USDC transferred from Ethereum through a bridge mechanism. This bridged USDC (USDC.e) is not issued by the company.

This exciting update comes just weeks after Circle announced the integration of its USDC stablecoin into the zkSync ecosystem. Stay tuned for more updates! 🚀🎉