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XION Blockchain Embraces USDC as Its Primary Currency in Groundbreaking Partnership with Circle Ventures

Jack Evans
Oct 9, 2023 at 09:29 am

Cryptocurrency enthusiasts and blockchain aficionados are buzzing with anticipation as XION blockchain, spearheaded by Burnt, a prominent web3 developer, ushers in a new era. With the recent unveiling of its public testnet, XION has reaffirmed its commitment to tangible use cases, promising an exciting array of opportunities for both developers and users.

What sets this revelation apart, however, is XION's strategic partnership with Circle Ventures. Circle Ventures, the venture arm of Circle, has been making waves in the cryptocurrency sphere, and this collaboration is yet another testament to their visionary approach. Under the terms of this strategic agreement, USDC, the stablecoin issued by Circle, will be the primary transactional currency on XION blockchain. All prices on the blockchain will be denominated in USDC, opening doors to seamless transactions and fostering widespread adoption.

Wyatt Lonergan, Principal at Circle Ventures, emphasized the significance of this partnership, stating, "With the beta launch of XION, developers can build purpose-built applications that leverage USDC for widespread adoption." This statement underscores the potential for innovation and growth that this partnership offers to the crypto community.

Burnt's blockchain has already achieved remarkable milestones, boasting over 200,000 active on-chain wallets and processing more than 1 million on-chain transactions. With support from over 70 partners, including industry giants like Checkout.com, Exodvs, and Osmosis, XION is poised to redefine the crypto landscape.

For Circle, this marks the fourth expansion of USDC in a remarkably short period. This trailblazing stablecoin issuer has been on a mission to broaden its presence across various blockchain networks. From Base to OP Mainnet and even the Polkadot network, USDC is making waves wherever it goes.

But Circle's ambitions don't stop there. In late September, Circle joined forces with Stellar to integrate EURC, a euro-anchored stablecoin, into Stellar's blockchain infrastructure. This move further reinforces Circle's commitment to expanding its footprint in the ever-growing world of cryptocurrencies.

As the crypto universe continues to expand, partnerships like the one between XION blockchain and Circle Ventures serve as a testament to the innovation and collaboration driving this ecosystem. The adoption of USDC as the primary currency on XION blockchain not only simplifies transactions but also paves the way for exciting new developments in tangible use cases. With these two visionary entities at the helm, the future of cryptocurrencies looks promising and filled with boundless possibilities. Stay tuned as this partnership unfolds, shaping the future of finance one block at a time.

Read more: Canada Sets the Gold Standard for Stablecoin Regulation: Protecting Investors and Ensuring Transparency

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