Following the merger, USDC Issuer Circle will join Chainlink in only supporting Proof-of-Stake Ethereum

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Last Updated on August 11, 2022 by Bitfinsider

Circle, the company behind the USD Coin (USDC), has announced that it will only support the Ethereum proof-of-stake chain once the leading smart contract platform completes its much-anticipated Merge.

Circle says in a statement that it made the decision based on its role in the Ethereum ecosystem as the issuer of the largest ERC-20 token and the network’s “largest dollar-backed” stablecoin.

“As Ethereum approaches “The Merge” event, we are excited about the future scaling opportunities it unlocks as well as the reduced energy consumption profile of the network. USDC is the largest dollar-backed stablecoin issued on Ethereum and, as the issuer of USDC, Circle intends to fully and solely support the Ethereum proof-of-stake (PoS) chain post-merge.

We understand the responsibility we have for the Ethereum ecosystem and businesses, developers and end users that depend on USDC, and we intend to do the right thing.”

Circle reiterated that, in comparison to any potential Ethereum forks, the upcoming Ethereum PoS chain is the only “valid” home for USDC.

Circle’s announcement follows the announcement by decentralized oracle network Chainlink (LINK) that it will no longer support forked versions of Ethereum after the much-anticipated Merge upgrade in September.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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