Noble and Circle Partner to Bring Native USDC to Cosmos
Noble, a Cosmos-centered assets issuance chain, has announced a partnership with Circle to introduce USDC to Cosmos and Inter Blockchain Communication (IBC) system. This partnership marks a significant milestone for the blockchain industry, owing to the fact that the IBC system has never featured any native, fiat-supported stablecoin that was both extremely liquid and completely collateralized.
We are excited to announce that Noble is bringing native #USDC to the @Cosmos and boundless Inter-Blockchain Communication (IBC) ecosystem in partnership with @Circle! ✨ https://t.co/wLTDW3YNSz
— Noble (@noble_xyz) March 28, 2023
Noble Wants to Become Gateway for All Digital Assets in IBC Ecosystem
With USDC now part of the IBC network, several hundred million dollars will flood into Cosmos over the next few months. The goal is to make it simpler for customers and appchains to work with bridging assets that originate in different ecosystems. With Circle’s help, USDC will be available natively on Cosmos, and over 50 IBC-enabled blockchains will now be able to utilize this asset.
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The goal of becoming the entry point for all digital products into the IBC system is an aspirational one for Noble. Nonetheless, this development is crucial for the future of the blockchain sector. With the debut of native USDC production on Cosmos, Noble has merely scratched the surface. Stablecoins and other on-chain digital representations of real worth fall under this category. As such, the integration of USDC into the IBC ecosystem will simplify and streamline cross-chain transactions. It makes easier for users to interact with multiple blockchains.
Noble’s Mainnet Goes Live, Enabling Seamless Interaction with Multiple Blockchains
The launch date for Cosmos-native USDC will be announced soon. This move represents a significant development for the blockchain industry, as it has the potential to solve many of the challenges that clients and appchains go through when interacting with bridged-assets sourced from any other ecosystem. With Noble’s vision for becoming the gateway for all digital assets coming into the IBC ecosystem, there will be further exciting developments in the future.
Noble’s mainnet went live on March 27th, and Circle is Noble’s first issuance partner. Moreover, this development will enable users to interact with multiple blockchains seamlessly, with Noble fulfilling the critical need for every blockchain to have an acknowledged and a fungible version of USDC. The integration of USDC to the IBC ecosystem is expected to simplify cross-chain transactions. It will also increase liquidity, and encourage the adoption of Cosmos-based blockchains.