World Chain Partners With Circle For USDC And CCTP V2 Integration

• World Chain integrates Circle’s USDC and CCTP V2 in its ecosystem thanks to a new partnership.
• The upgrade aims to enhance liquidity, security, and capital efficiency for World Chain developers and users.

Fresh from its initial public offering (IPO) last week, Circle announced an exclusive partnership with Sam Altman-founded World Chain. The collaboration unveiled on Wednesday brings the USDC and the Cross-Chain Transfer Protocol version 2 (CCTP V2) to the Layer 2 (L2) blockchain underpinned by Ethereum (ETH).

The Circle and World Chain Partnership

According to Circle, the partnership unlocks World Chain developers and users access to a higher level of liquidity, security, and capital efficiency. Circle going public means its native stablecoin, USDC, is now a regulated asset, underscoring its commitment to compliance with industry standards, stability, and cybersecurity.

The stablecoin is physically backed and pegged 1:1 to the US dollar. It leverages Circle Mint to provide users with a trusted and scalable platform for trading, payments, decentralized finance (DeFi), and other financial services in collaboration with eligible businesses.

ADVERTISEMENTMeanwhile, the CCTP V2 offers cross-chain compatibility for seamless transfers or transactions with supported blockchains. Hooks also gives them the option to automate post-transfer actions for convenience.

What’s more, the newly forged alliance integrates USDC support for World App’s Mini Apps. From there, builders can utilize the stablecoin for various use cases, including, but not limited to, peer-to-peer (P2P) payments, e-commerce, and savings.

Circle’s IPO

Tether’s USDT remains the largest stablecoin in the world, with a market capitalization of over $155 billion. The USDC comes in far second with an overall valuation of around $61 billion. However, the US Securities and Exchange Commission’s (SEC) oversight of Circle’s activities now makes USDC the largest regulated stablecoin in the world, with coverage extending to more than 180 countries.

ADVERTISEMENTAfter reportedly rejecting Ripple’s $5 billion bid for acquisition, as well as offers from Coinbase and Andreesen Horowitz-led a16z, Circle made a successful debut on the New York Stock Exchange on Thursday last week.

Upon launch, the company’s stock outperformed its IPO price of $31 per share and the expected range of $27-$28 set by analysts. It skyrocketed by 168.5% to $83.23 per share on the closing of its first day of trading. The milestone raised its market cap to nearly $19 billion.

On Monday, Circle’s stocks continued their momentum to a $138.57 record high. Yesterday, it opened at $107 per share and fluctuated between a $106.50 low and $120.49 high before eventually closing at $117.20.

Cricle (CRCL) Price on NYSE (Source: TradingView)

ADVERTISEMENT