Financial technology company Circle, the issuer of USD Coin (USDC), announced the native stablecoin liquidity access on the NEAR protocol ecosystem. The USDC NEAR access can be gained from Circle Account and Circle APIs, the company announced on Wednesday.
The NEAR USDC pairing can be accessed through Circle Account and Circle APIs for various use cases including low-cost payments and remittances globally, 24/7 trading, borrowing and lending, and enabling users to hold savings in digital dollars without a bank account.
The new access addition comes after Circle gained a massive stranglehold in the US crypto ecosystem with crypto exchange Coinbase purchasing
a stake in the company
This could go on to be a key partnership as regulators could favor it as both are United States-based companies. On June 1, 2023, a similar announcement was made on introducing USDC natively on the Arbitrum Layer 2 network.