Circle Officially Activates USDC on Monad Mainnet on Day One
New York – Leading stablecoin USDC will officially launch on Monad – a promising Layer 1 blockchain – on the day its mainnet goes live, according to the latest announcement from Circle and the Monad Foundation.
USDC “Sets Foot” on Monad: Another Link in the Multi-Chain Ecosystem
With a market cap of around $60 billion, USDC has been present on most major blockchains in the crypto space. Now, Monad – a new L1 blockchain with the ambition to break through transaction processing speed – will be the next destination.
Circle confirmed that USDC will be activated on Monad on the first day of the mainnet, marking an important expansion in the stablecoin’s multi-chain journey.
Monad: Next-Generation Ethereum Virtual Machine with 10,000 TPS
Monad, currently in testnet, is a layer 1 blockchain designed to be compatible with the Ethereum Virtual Machine (EVM), but stands out for its parallel order matching capabilities, processing up to 10,000 transactions per second (TPS) – a quantum leap over current networks.
Integrating USDC on Monad helps provide deep liquidity and payment stability – key factors to foster the development of decentralized financial, gaming, and payment dApps.
CCTP v2 & Circle Wallet: The underlying infrastructure that comes with liquidity
Circle will not only bring USDC to Monad, but also bring the CCTP v2 cross-chain transfer protocol and Circle Wallets service into the ecosystem.
CCTP v2 – an upgrade launched in March – allows users to transfer USDC between Ethereum and Layer 2 networks in seconds, thanks to Fast Transfer and Hooks.
With Monad, this “faster than completion” feature will be available from the day the mainnet launches, promising to enhance the experience for DeFi users and developers.
Meanwhile, Circle Wallets will support decentralized applications on Monad to easily integrate USDC wallets flexibly and securely.
The Monad ecosystem is gradually taking shape
Prior to the mainnet launch, Monad launched a public testnet to provide a safe testing environment for developers. Compatibility with Ethereum makes dApp deployment easier than ever.
Notable projects in the Monad ecosystem include:
Dirol – the original DeFi hub,
Fortytwo – a decentralized AI network,
Griffy – a prediction market combined with a Tinder-style mini app on Telegram,
aPriori – a liquidity staking protocol and MEV infrastructure,
Accountable – a crypto-based yield platform.
Conclusion: A Strategic Move by Both Circle and Monad
Circle’s choice to support Monad from day one not only demonstrates strategic vision, but also solidifies USDC’s position as the standard stablecoin for the multi-chain Web3 world.
With a strong technical foundation, and support from one of the leading companies in the blockchain payments space, Monad could soon become a formidable name in the Layer 1 blockchain race.
