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Circle Expands USDC For DeFi, Launches On Injective

Circle's USDC stablecoin is expanding to new networks as it launches on Injective to support broader stablecoin liquidity across DeFi.

Stablecoin liquidity for DeFi is being expanded across networks like Injective (Norbert Kowalczyk / Unsplash)

Stablecoin liquidity for DeFi is being expanded across networks like Injective (Norbert Kowalczyk / Unsplash)

Circle adds USDC stablecoin to Injective protocol.

The stablecoin issuer is expanding its USDC stablecoin to the Injective protocol and integrating CCTP for bridging balances. With around $78M in market cap, USDC is continuing to add new networks for DeFi trading.

Per DefiLlama, Injective has around $16M in total stablecoins TVL (Total Value Locked), with the majority of the existing share currently being held by Tether's USDT stablecoin.

With recent security breaches and broader capital movements happening from DeFi to TradFi, there is a continued effort for stablecoin issuers to maintain interoperability with different Layer 1 protocols and support diversified stablecoin liquidity.

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