Avalanche Adds USDC Stablecoin in Continued DeFi Push

Posted on by American Coins & Gold

Avalanche Adds USDC Stablecoin in Continued DeFi Push
Avalanche, an Ethereum-rivaling smart contract blockchain, is adding a native version of USDC – the stablecoin backed by cash and liquid cash equivalents that is administered by Boston-based Circle.Bringing USDC to Avalanche should further grease the wheels of decentralized finance (DeFi) on the network, following a recently announced $200 million incubation fund for DeFi projects of various stripes. Robust stablecoin options are seen as table stakes for any emerging base layer looking to rival Ethereum for functionality.Up until now, users have had to bridge USDC from Ethereum over to Avalanche.“This is kind of convoluted,” said Ava Labs President John Wu…