Circle has announced the launch of Gateway, a new solution for instant USDC transfers that unifies liquidity across seven popular blockchains.
Introduction
On August 19, Circle introduced Gateway, enabling instant transfers of USDC across blockchains. At launch, it supports Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain.
Features of Gateway
Gateway provides a unified USDC balance across multiple chains, utilizing a mix of smart contracts and off-chain attestation. Transfers occur in less than 500 ms, creating a user experience similar to a single-chain operation. Assets in the Gateway Wallet are self-custodial, allowing users to maintain control over their assets.
Stablecoin Market and Circle's Future
Circle is seeing a growing interest in stablecoins. In its Q2 report, the company stated it earned $658 million, a 53% increase from the previous year. The main driver for this growth was an 86% rise in USDC circulation.
The launch of Circle's Gateway is a significant step towards enhancing the usability of the USDC stablecoin, providing users with access to liquidity across multiple blockchains with minimal delays.
