Circle officially announced on the fifth (local time) that its stablecoin USDC will be integrated into Polymarket. Polymarket is the largest prediction market platform by trading volume, currently operating on Polygon and previously used USDC.E via the Polygon bridge. Under the agreement, native USDC is expected to be usable directly on the platform within the coming months. USDC’s circulating supply stands at about $70.7 billion, making it the second-largest stablecoin after USDT.

Shayan Koplan, founder and CEO of Polymarket, said, “Circle has played a central role in the crypto infrastructure space, and the USDC integration marks a milestone in increasing trust and market integrity for prediction markets.” The introduction of native USDC is expected to significantly improve fee efficiency and transparency. Polymarket has been stepping up its monetization strategies this year.

Following the introduction of trading fees last month, it has expanded its institutional reach by forging prediction partnerships with The Wall Street Journal and Dow Jones. DefiLlama reports that Polymarket processed about $113 million in trades over the past 24 hours, with total value locked around $333.75 million.

Follow NOW

Leave a Reply

More Articles

follow now

Trending

Discover more from Rich by Coin

Subscribe now to keep reading and get access to the full archive.

Continue reading