Circle Announces Support for USDC Stablecoin on Algorand Blockchain
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The Algorand Foundation has announced that the USD Coin (USDC) stablecoin will be launched on the Algorand (ALGO) blockchain.
The integration will allow customers using Circle APIs or Circle Business Accounts to convert funds from their bank account or card network into stable tokens on the Algorand blockchain.
USDC currently ranks as the second-largest stablecoin by market cap, and the 19th-biggest crypto asset with a capitalization of nearly $930 million. The coin was developed as a joint venture comprising Circle and major cryptocurrency exchange Coinbase.