{"id":61031,"date":"2023-10-07T16:58:40","date_gmt":"2023-10-07T20:58:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=61031"},"modified":"2023-10-07T17:01:19","modified_gmt":"2023-10-07T21:01:19","slug":"xion-blockchain-to-adopt-circles-usdc-as-its-primary-currency","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xion-blockchain-to-adopt-circles-usdc-as-its-primary-currency\/","title":{"rendered":"XION Blockchain to Adopt Circle’s USDC as its Primary Currency"},"content":{"rendered":"\n

Following the strategic partnership with Circle Ventures<\/a>, XION will make USDC its main medium of exchange.<\/p>\n\n\n\n

\"XION
XION Blockchain to Adopt Circle's USDC as its Primary Currency<\/figcaption><\/figure>\n\n\n\n

Burnt, a web3 developer of the XION blockchain, announced the opening of its public testnet for XION, a layer-1 network<\/a> centered on “tangible use cases.”<\/p>\n\n\n\n

In addition to introducing the testnet, Burnt disclosed that it had previously entered into a strategic investment deal with Circle Ventures, the venture arm of Circle.<\/p>\n\n\n\n

As part of the agreement, XION will use USDC as its main currency and show all values in the stablecoin on the blockchain. Principal at Circle Ventures Wyatt Lonergan:<\/p>\n\n\n\n

\n

“With the beta launch of XION, developers can build purpose-built applications that leverage USDC for widespread adoption.”<\/p>\n<\/blockquote>\n\n\n\n

More than 200,000 active on-chain wallets and more than 1 million on-chain transactions, according to Burnt, have already been added to the blockchain. <\/p>\n\n\n\n

Over 70 companies reportedly support the network, including Checkout.com, Exodvs, Osmosis\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, and others. Since September 2023, Circle has expanded USDC four times.<\/p>\n\n\n\n

As previously the Boston-based stablecoin issuer has launched USDC on Base, a decentralized network hatched by Coinbase, and OP Mainnet, a layer-2 blockchain created by the Optimism Ethereum (ETH) scaling protocol.<\/p>\n\n\n\n

USDC has also been made accessible on the Polkadot network as of mid-September. However, Circle is attempting to expand its reach as much as it can, and USDC is not the only stablecoin.<\/p>\n\n\n\n

Late in September, Circle and Stellar teamed up to include EURC, a stablecoin pegged to the euro, into the Stellar network. The EURC stablecoin <\/a>already runs on the Avalanche (AVAX) and Ethereum (ETH) networks in addition to Stellar.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the strategic partnership with Circle Ventures, XION will make USDC its main medium of exchange. Burnt, a web3 developer of the XION blockchain, announced the opening of its public testnet for XION, a layer-1 network centered on “tangible use cases.” In addition to introducing the testnet, Burnt disclosed that it had previously entered into […]<\/p>\n","protected":false},"author":43,"featured_media":61033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[1658,1106,16673],"class_list":["post-61031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-circle","tag-usdc","tag-xion-blockchain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/croc_1696704265913.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=61031"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/61033"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=61031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=61031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=61031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}