Polygon USDC launches on Circle to offer fast and cheap transactions

The bridged version of the USDC hosted on Ethereum, Polygon USDC, is now available on Circle platforms for remittances and withdrawals. The latter is a peer-to-peer payments technology firm as well as the stablecoin’s issuer.

Available on Circle accounts and APIs

According to statistics from last month, Polygon now supports more than 19,000 dApps and over 2.7 million monthly active wallets. With the latest development, users can transact Polygon USDC using their Circle accounts or Circle APIs. 

Before this, Circle users used to manually “unbridge” Polygon USDC to Ethereum USDC for cashing out. After that, they also had to “re-bridge” Ethereum USDC to Polygon USDC to save costs and time on transactions. To avoid such a hectic process, the product came into the picture. Just like Polygon, which makes transactions on Ethereum faster, cheaper, and more efficient, Polygon USDC also offers similar advantages to the users.

According to the official announcement, entities can now make Polygon USDC payments via their Circle accounts. Instead of following the time and energy-consuming unbridging-bridging process, businesses can now convert fiat currency to Polygon USDC in just a few clicks and vice-versa.

Exchanges, businesses, developers, and institutional traders can access Plygon USDC on Circle API, and Circle accounts for the following implementations:

• Trading on exchanges like Binance and FTX
• Swapping, borrowing, and lending on DeFi protocols like Aave and Uniswap
• Accepting payments for NFT marketplaces and gaming platforms
• Making programmatic payouts in seconds to users around the world

Both the companies are bonding with big names to expand in the industry. Recently, Yuga Labs integrated Polygon to its ApeCoin when the Otherdeeds NFT collection minting received a heavy backlashing. It has also partnered with fintech company Stripe to enable crypto payouts on Twitter. On the other hand, Circle has also been chosen by multiple big names like Checkout.com and FIS.