USDC Expands Horizons: Partnering with SEI for Lightning Transactions
Circle, a stablecoin issuer, has announced its investment in a new layer-1 blockchain with the goal of broadening the applications for USDC, its digital asset pegged to the dollar.
According to a recent blog post by the Sei Network (SEI), acclaimed as the fastest blockchain globally, Circle’s venture capital arm is injecting funds into SEI to expand the functionality of USDC.
The investment aims to enable instantaneous transaction settlements, facilitate easier cross-border payments, and bolster liquidity within Sei’s digital asset markets for both users and developers.
Sei stands out for its focus on addressing the primary cryptocurrency use case—digital asset exchange. It’s not only remarkably fast but also achieves an impressive 390ms time to finality, setting unprecedented speed benchmarks. Positioned as the solution to the industry’s long-standing efficiency and scalability needs, Sei holds promise.
By integrating with Sei, USDC will empower developers and entrepreneurs worldwide by providing a unique opportunity to swiftly and affordably build products and commerce on a global open platform, thanks to its instant transaction settlement feature.
This collaboration will unlock more efficient cross-border transactions, enhance existing payment infrastructure, and significantly boost liquidity within Sei’s digital asset markets for its users and developers.
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Wyatt Lonegram, principal at Circle Ventures, expressed enthusiasm, stating, “The Sei ecosystem aligns perfectly with our commitment to collaborating with visionary founders and teams dedicated to fostering open access and programmable commerce.
We eagerly anticipate working hand in hand with the Sei team to seamlessly integrate USDC, enabling high-speed and cost-efficient transactions for developers and users on the network.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
