Circle & Polkadot Collaboration: Reminiscing Leo's Multi-chain Bridge as a Catalyst for Web3 Mass Adoption

Blockchain Collaboration: A Catalyst for Crypto Mass Adoption

In what I consider a significant collaboration move in the cryptocurrency industry, Circle, a leading digital financial services company, has announced the launch of USD stablecoin (USDC) on the Polkadot Asset Hub. This development marks a pivotal moment for both Circle and Polkadot, as it promises to bring the stability and utility of USDC to the Polkadot network.

USD Coin (USDC) is a well-established stablecoin in the world of cryptocurrency. USDC has gained popularity for its transparency, regulatory compliance, and stability, making it a preferred choice for many individuals and businesses in the crypto space. USDC is available on Ethereum, Stellar, Tron, Solana and other blockchains and now Polkadot. On the other hand, Polkadot is a blockchain platform that is renowned for its focus on interoperability. It stands out by allowing different blockchains to communicate and share information seamlessly. Polkadot's unique architecture, which includes parachains and bridges, makes it an ideal environment for projects seeking to extend their reach and utility.

Circle launches USD Coin on Polkadot Asset Hub

Four days ago, Circle, issuer of USD Coin (USDC), has officially launched USD Coin on the Polkadot network. This development was announced via Circle's website on September 19. According to the Circle’s website, Polkadot USDC is immediately available for developers and users as the stablecoin can now be transferred to parachains in Polkadot via the XCM protocol using Circle Account and Circle APIs.

"Polkadot USDC is here! We’re excited to announce that USDC is now available natively on Polkadot Asset Hub for developers and users of the Polkadot ecosystem"

For the safety of users' assets, Circle has stressed that Circle Account and Circle APIs only support Polkadot USDC natively issued on Polkadot Asset Hub in the Polkadot ecosystem. Thus, users are expected to transfer USDC from their Circle Account to an external Polkadot Asset Hub wallet address prior to using XCM.

“Please do not attempt to deposit XCM-transferred USDC from a parachain other than Polkadot Asset Hub to your Circle Account, as it may not be recoverable and could result in a loss of funds.”

Circle's launch of USD Coin on the Polkadot Asset Hub is a testament to the crypto industry's evolution and the growing importance of interoperability and stability in the blockchain space. This integration brings the best of both worlds together, offering the stability of USDC within the interconnected and innovative environment of Polkadot

Reminiscing Leo's Multi-chain Bridge as a Catalyst for Web3 Mass Adoption

Some months ago, the Leo project built a multi-token bridge. The LeoBridge provides for users the possibility of moving assets seamlessly from one blockchain to another. Since Leofinance is based on Hive, those coins ($HIVE, $HBD and $LEO) can be moved to the Etherum, Binance Smart Chain as well as Polygon network.

This bridge besides the revenue system is serves for liquidity providers on the DeFi fronts of Leo, has become a link to convert assets across blockchains with the least fees ever. We have bHive, pHive, bHBD, pHBD, bLEO, pLEO, wLEO as derivatives of $HIVE, $HBD and $LEO on other blockchains other than the native Hive Blockchain.

The Leo team has always prioritized collaborations. The ongoing Hive onboarding utilizing the Zealy platform for gamifying users engagements on Hive Blockchain is an example of the Leo teams intentionality when it comes to deepening the user base of the Leo ecosystem with organic linking.

The big picture is to democratize access to knowledge. Today, the Leo ecosystem has grown from a regular scotbox community into a full Hive interface hosting hundred of niche communities. The huge improvements in the functioning and UI/UX is a worthy bait that would make web3 easier to onboard and engage. Testimonials from the ongoing Zealy campaign has shown how seamless it is to access and engage the several Dapps and communities on the Hive Blockchain.

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This post was created via LeoFInance, What is LeoFinance?

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

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