Crypto News– Circle is expanding its suite of Web3 Services and Tools to include Solana, aiming to enhance the accessibility of USDC for developers and enterprises, ensuring seamless integration into various applications.
Circle Boosts Solana Integration as it Emerges as Premier Network for International Transactions
This move follows an AllianceBernstein research report which revealed that Solana has become the most popular network for stablecoin transfers, particularly for cross-border payments.
Circle aims to improve USDC’s accessibility for developers and enterprises, ensuring easy integration into various applications. This initiative will enable businesses to utilize APIs to integrate secure wallets, manage on-chain transactions or smart contracts, and streamline user onboarding and transaction flows.
Circle’s official announcement expressed excitement about partnering with Solana’s dynamic developer community and businesses to develop and launch innovative applications.
Supremacy of Stablecoins
This development unfolds amid a significant surge in the stablecoin market, with USDC’s supply witnessing a nearly 10% rise in the past month.
In light of these developments, a report from AllianceBernstein positions Solana ahead of Ethereum concerning stablecoin payment volume, signaling its ascendancy as the favored platform for stablecoin transactions.
Authored by analysts Gautam Chhugani and Mahika Sapra, the report underscores the resurgence of stablecoin utilization in the ongoing bull market, with Solana leading in cross-border payments facilitated by stablecoins.
Notably, Solana has secured a commanding 43% market share in the value of stablecoins transferred, markedly outperforming Ethereum, according to Artemis’ data. Solana’s stablecoin transfer volume stands at $63.6 billion, surpassing Ethereum’s $26.6 billion.
On-chain metrics reveal that Solana’s market share in stablecoin transfers reached $1.4 trillion in March, more than double Ethereum’s $635 billion.
Leave a comment