USDC Launches Native Token on Arbitrum Ecosystem

Circle, the issuer behind the USDC stablecoin, has announced the deployment of a native token version of USDC on the Arbitrum ecosystem.

USDC Launches Native Token on Arbitrum Ecosystem

On Circle's official Twitter, the organization revealed that the native token version of USDC on Arbitrum will go live on June 8th. Concurrently, liquidity for the "bridged USDC" version (the version transferred from Ethereum) will gradually be phased out and replaced by the new native token version.

Specifically, the bridged token from Ethereum will be labeled as USDC.e, while the ticker for the native Arbitrum token will be USDC.

According to Circle's announcement, the liquidity transition will be implemented gradually to avoid disrupting the user experience with the Arbitrum Bridge.

In the future, Circle plans to integrate the Cross-Chain Transfer Protocol (CCTP) with the Arbitrum ecosystem. This move aims to facilitate seamless transfers between Ethereum and Arbitrum within minutes, providing users with a fully native USDC experience.

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With the native token version, users can easily deposit and withdraw funds within the blockchain ecosystem with greater convenience. Additionally, it ensures a 1:1 collateral ratio with Circle's reserves.

In addition to expanding the native token ecosystem for USDC, Circle has recently taken steps to mitigate the impacts of U.S. government bonds, particularly amid the unpredictable fluctuations in the traditional economic landscape.