Circle to launch ‘official version’ of USDC natively on Arbitrum

USDC stablecoin developer Circle will replace the current version of its token with one running natively on the Arbitrum network.

Circle recently announced plans for a June 8 launch of a new native version of its USD Coin stablecoin on the Arbitrum network.

1/ Circle is launching USDC natively on @Arbitrum on June 8th!

Keep scrolling or read the blog to learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC. https://t.co/tbxSmUvXso

— Circle (@circle) June 1, 2023

According to a blog post, Circle will replace the existing version of USD Coin, an Ethereum-based token that’s been bridged to Arbitrum, with a native token that runs and resides on the Arbitrum network itself:

“This will be the official version of USDC that is recognized within the Arbitrum ecosystem and will ultimately replace the currently circulating bridged version of USDC that comes from Ethereum.”

Ahead of the launch, Circle plans to rename the existing Ethereum-based version of USDC to “USDC.e.” The original version will be listed as “bridged USDC,” and the new Arbitrum-based version will don the “USDC” mantle.

5/ Bridged USDC from Ethereum

– Token Name: Bridged USDC
– Token Symbol: USDC.e
– Token Address: 0xff970a61a04b1ca14834a43f5de4533ebddb5cc8

— Circle (@circle) June 1, 2023

Source: https://cointelegraph.com/news/circle-to-launch-official-version-of-usdc-natively-on-arbitrum