USDC (USDC), CCTP v2 and Circle Wallets Will Launch on Monad's Mainnet When It Goes Live

Circle and Monad Foundation have announced that USDC (USDC), the $60 billion stablecoin natively available on most blockchains in the crypto space, will go live on the Monad chain on day 1 of the mainnet.

Monad, an L1 blockchain aiming to bring parallel execution to the Ethereum (ETH) Virtual Machine with 10,000 transactions per second, is launching its mainnet and will host Circle’s stablecoin, cross-chain transfer protocol, and wallet on day one.

The L1 is planning to go live in Q4 2023 and will add USDC (USDC), the $60 billion stablecoin natively available on most blockchains in the crypto space, to its chain at launch.

This integration will see Monad support the stablecoin’s network growth by allowing developers to tap into USDC’s deep liquidity and trusted settlement to create and deploy high-performance applications for DeFi, gaming, and payments.

"We are thrilled to welcome Monad to the USDC ecosystem," said Chaitanya Ravichandra, head of DeFi and institutional strategy at Circle.

"Monad's cutting-edge technology and commitment to innovation align perfectly with our vision for an open and interconnected financial system. We are excited to see developers on Monad leverage USDC's liquidity and CCTP v2 to build the next generation of decentralized applications."

Monad's architecture will enable developers to build dApps with high throughput, low latency, and seamless interoperability, the company claims.

"At Monad, we are focused on providing developers with the tools and resources they need to create the decentralized applications of tomorrow," added Ben Reich, CEO of Monad.

"Our partnership with Circle is a testament to this commitment and will enable us to offer an unmatched user experience for DeFi, gaming, and other Web3 use cases."

Earlier this year, Monad launched its public testnet, aiming to provide developers and the community of users a safe and risk-free environment to test dApps.

Developers are able to deploy apps that the community can interact with ahead of the mainnet launch. The project offers compatibility with Ethereum.

Apps in the Monad ecosystem include native DeFi hub Dirol, decentralized AI network Fortytwo, and prediction market Griffy, which also offers a Tinder-style Telegram mini-app.

Others include aPriori, a maximum extractable value infrastructure and liquid staking protocol; and Accountable, which offers crypto-based yields.