USD Coin (USDC), the second-largest stablecoin by market capitalization, is set to launch on the Sui network, a layer-1 (L1) blockchain. Circle's CEO, Jeremy Allaire, announced the upcoming integration, expanding USDC's presence to over 15 blockchain networks. The integration will allow USDC to be natively supported on Sui through the Cross-Chain Transfer Protocol (CCTP), enabling seamless transfers between blockchain networks via burning and minting. Sui, launched in 2023, is an L1 blockchain platform that simplifies application creation in the Web3 ecosystem. The addition of USDC and CCTP is expected to enhance Sui's usability and security. USDC, launched in 2018 by Circle and Coinbase, is pegged to the US dollar and has become one of the largest stablecoins globally. Circle has been expanding USDC support to various blockchain networks, including Soneium, an Ethereum layer-2 network developed by Sony Block Solutions Labs. Read more AI-generated news on: https://app.chaingpt.org/news