The Noble team believes that this integration will generate hundreds of millions of dollars in liquidity in the Cosmos ecosystem in the upcoming months
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As per a blog post from the Noble development team, USD Coin (USDC) will be accessible on the Cosmos ecosystem through the Noble network soon. Circle, the issuer of USDC, shared the post on Twitter.
However, no particular date was mentioned by either Circle or Noble for the launch of USDC on the network. They advised readers to keep an eye out for further updates.
The Noble team has announced that the USDC will be the first fiat-backed stablecoin that is highly liquid and fully collateralized on a Cosmos Inter-Blockchain Communication Protocol-connected network.
According to them, the introduction of the USDC stablecoin will address many of the issues that Cosmos users currently face when trying to transfer assets from one network to another.
The Noble team believes that this integration will generate 100s of millions of dollars in liquidity in the Cosmos ecosystem in the upcoming months. Noble aims to provide a canonical and fungible version of USDC to every blockchain, fulfilling a critical need for the ecosystem.