It’s Circle’s latest effort to embed USDC into Arbitrum, a hub for DeFi, and to compete with Tether’s USDT.
Circle Internet Financial, the manager of dollar-backed stablecoin US Dollar Coin (USDC), has integrated layer-2 scaling chain Arbitrum into its Web3 infrastructure platform, according to a Sept. 12 blog post.
The Web3 platform brings USDC-centric programmable wallets, smart contract tooling, and gas-fee abstraction to Arbitrum, the blog post said. With total value locked (TVL) of around $2.5 billion, Arbitrum is Ethereum’s (ETH) largest layer 2, according to DefiLlama.
Nikhil Chandhok, Circle’s chief product officer, said in a post on the X platform that the platform helps developers “build frictionless in-app wallets that support USDC for global payments, e-commerce, [and] gaming,” among other use cases.
