Circle has announced the launch of USDC on the Celo blockchain.
The company stated that USDC, developed by Circle, will be built into Celo, becoming one of the numerous use cases for stablecoins in the ecosystem such as remittances, savings, loans, and peer-to-peer and cross-chain payments.
Celo’s ecosystem has over 1,000 projects in more than 150 countries, with major partners like Deutsche Telekom and Opera.
The partnership aims to increase accessibility of USDC and leverage the popularity of Celo’s mobile-first user base in regions with high adoption of blockchain technology, according to Circle Senior Development Manager Shamus Noonan.
Moreover, the Celo community will consider a proposal from cLabs to use USDC as a payment method for gas on the network.
