Circle Expands Solana Presence with Launch of Web3 Services
The major stablecoin issuer expands its presence on Solana, empowering businesses and developers to build cutting-edge Web3 apps.
- Author: Sheldon Cooper
- Published: April 8, 2024 at 18:38
- Updated: May 21, 2024 at 21:09
Circle, a global financial technology firm behind the popular USDC stablecoin, today announced the launch of Web3 Services on the Solana blockchain. This major move comes just weeks after Circle integrated its Cross-Chain Transfer Protocol (CCTP) with Solana, offering fast, secure USDC movement between blockchains.
Circle's Web3 Services suite aims to streamline the development and launch of Web3 applications on Solana. Developers and businesses will have access to robust APIs, enabling them to embed secure digital wallets for seamless asset management, manage on-chain transactions and smart contract interactions with ease, and create frictionless user experiences with intuitive onboarding and transaction flows.
Circle's commitment to the Solana ecosystem is evident. The company aims to harness USDC's thriving presence on Solana and its rapidly growing developer community to power a new wave of innovation.
Circle's Solana Focus
Circle's launch of Web3 Services reinforces its recent investments into Solana. The company's Cross-Chain Transfer Protocol, integrated with Solana in March 2024, has seen swift adoption by key DeFi projects like Jupiter Exchange, Allbridge, Drift Protocol, and others. CCTP's native burn-and-mint process guarantees true 1:1 dollar backing for USDC across chains, setting a security standard for cross-chain stablecoin transfers.