Crypto.com Announces Support for USDC Deposits on Avalanche Blockchain

Crypto.com Announces Support for USDC Deposits on Avalanche Blockchain

Crypto.com, a well-known cryptocurrency exchange, has recently made an exclusive move to enhance its user base. The platform has announced its support for the deposits of the USD Coin (USDC) cryptocurrency token on the AVAX-C network via its app. This significant development was shared on the official Twitter account of the crypto exchange, highlighting the inclusion of USDC on the Avalanche blockchain.

On July 6th of this year, Crypto.com officially listed USDC on Avalanche, marking a substantial milestone aimed at providing users with more options. The addition of USDC further expands the extensive list of supported cryptocurrencies and stablecoins, which already exceeds 250 tokens on the platform.

Notable names like Bitcoin (BTC), Cronos (CRO), VeChain (VET), Chainlink (LINK), Polkadot (DOT), and Ethereum (ETH) are among the diverse range of digital assets available. This move offers users multiple opportunities to leverage the benefits of USDC, ultimately contributing to portfolio diversification.

Additionally, Crypto.com addressed another token called USDC.e, distinguishing it from the native USDC token. The company explained that these two tokens differ from each other within the Avalanche ecosystem. The USDC.e token represents the bridged form of the Ethereum-based USDC token facilitated through the Avalanche Bridge. On the other hand, the native USDC token on Avalanche is issued by Circle. It is worth noting that Crypto.com no longer supports the withdrawal and deposit of USDC.e tokens on the Avalanche network.