Circle has introduced a new tool called 'Circle Gateway', aimed at simplifying access to the USDC stablecoin across various blockchains, eliminating the need for third-party bridges.
The Problem of Using Bridges Between Chains
Currently, users have to use bridges to transfer their digital assets between different blockchains. This typically means sending funds across networks using third-party bridges, which is not always quick or safe.
Launch of Circle Gateway
On July 1, Circle launched 'Circle Gateway'. According to the company statement, 'Circle Gateway is a new cross-chain primitive that enables a unified USDC balance for instant cross-chain liquidity.' The main idea is to allow users to move their money where it's needed without dealing with bridges.
Benefits for Developers and Businesses
'Gateway offers developers one connection that works across chains, alleviating concerns about which chain their users are on. This significantly simplifies app development in the multi-chain space. For businesses, the solution also presents advantages by simplifying the management of multiple wallets across different networks, allowing for one unified balance instead of juggling multiple ones.
The launch of Circle Gateway represents a step towards making the use of stablecoins more convenient and accessible for everyday finance, removing unnecessary complexity and allowing users to focus on what matters.
