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Circle Launches xReserve For USDC Backed Stablecoins
Circle Launches xReserve For USDC Backed Stablecoins. Photo By Clark Van Der Becken On Unsplash.
Circle has launched a new product called xReserve for using USDC as across chains.
The stablecoin issuer has revealed an innovative smart contract aimed at developers from the industry and different blockchain platforms to utilise USDC as backing to improve bridging. This will be first tried out within the ecosystems of the Canton Network, a payments chain for banks and financial institutions, as well as Stacks, a protocol built on the Bitcoin network. Co-founder and CEO Jeremy Allaire reacted on X:
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