Circle to Deploy Its Stablecoin, Cross-Chain Transfer Protocol, and Wallet on Monad Blockchain Mainnet

Circle and the Monad Foundation announced that USDC, a $60 billion stablecoin natively available on most blockchains in the crypto space, will launch on the Monad chain on the first day of the mainnet. Monad, an L1 blockchain aimed at enabling parallel execution on the Ethereum Virtual Machine with 10,000 transactions per second, is currently on testnet.

In addition to the stablecoin, Circle plans to introduce Circle Wallets and the CCTP v2 protocol to the blockchain networks developer ecosystem. This means that Circle will support the growth of the Monad network by giving developers access to deep liquidity and trusted settlements in USDC. Developers can use this to build and deploy high-performance applications for decentralized finance, gaming, and payments.

CCTP v2, an upgrade to Circle‘s cross-chain transfer protocol that launched in March, enables fast and composable USDC transfers. The improved CCTP v2 uses Fast Transfer and Hooks to reduce USDC settlement times on Ethereum and Layer 2 networks to a few seconds. These features will now be available to Monad users on the mainnet. Circle’s support for Monad will also include Circle Wallets, a service that provides flexible wallet integration with any decentralized application.