Circle deploys Stablecoin, Cross-Chain Transfer Protocol, and Wallet when a live occurs in the mainnet of Layer 1 Blockchain Monad.
The Circle and Monad Foundation has announced that USDC (USDC), a $60 billion stablecoin for most blockchains in Crypto space, will be released on the Monad chain on the first day of the mainnet, with native availability.
Monad is an L1 blockchain that aims to bring parallel execution to Ethereum (ETH) virtual machines with 10,000 transactions per second, and is currently on the testnet.
Like Stablecoin, Circle plans to bring CCTP V2 and Circle Wallets to the developer ecosystem of blockchain networks. This means Circle will support Monad’s network growth by enabling developers to take advantage of USDC’s deep liquidity and reliable settlements.
Developers can use this to create and deploy high-performance applications for decentralized finance, gaming, and payments.
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CCTP V2, an upgrade to Circle’s cross-chain transfer protocol released in March, enables fast, configurable USDC transfers.
The expanded CCTP V2 uses high-speed forwarding and hooking capabilities to bring USDC settlements down Ethereum and Layer-2 networks to just a few seconds. This “Faster than Finality” feature is now available to Monad users at the time of launch.
Circle’s support for Monad includes Cill Wallets. It is a service that brings flexible wallet integration into decentralized applications.
Monad launched a public testnet earlier this year, aiming to test DAPP by providing a safe, risk-free environment for the developer and user community. Developers can deploy apps that the community can interact with prior to the launch of the mainnet.
This project provides compatibility with Ethereum.
The Monad ecosystem apps include native Defi Hub Dirol, decentralized AI network ftytwo, and forecast market Griffy. Others include Apriori, maximum extractable value infrastructure, and liquid staking protocols. and accountability to provide crypto-based yields.
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