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Circle plans to only support Ethereum PoS chain after Merge is complete

08/10/2022

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2022.08.10 07:46

Circle plans to only support Ethereum PoS chain after Merge is complete

On Tuesday, Circle, the issuer of the USD Coin (USDC) stablecoin, pledged its full support for the transition of Ethereum to a proof-of-stake, or PoS, blockchain after the much-anticipated Merge upgrade. The firm views the Merge as an important milestone in the scaling of the Ethereum ecosystem, writing:

Currently, USDC is both the largest dollar-backed stablecoin issued on Ethereum and the largest ERC-20 asset overall, with over $45 billion in market capitalization residing in the ecosystem at the time of publication. Its reserves are audited and held at U.S. financial institutions such as BlackRock (NYSE:BLK).

08/10/2022

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