Invest in Web 3.0 and USDC with the Best Crypto Apps Next Week

USDC Launching on Base Network

Circle’s United States dollar stablecoin, USD Coin, is set to launch natively on the Base network “next week,” according to an Aug. 29 social media post from CEO Jeremy Allaire. This will replace the current USD Base Coin (USDbC) that most users rely on as a substitute.

Coinbase’s Base network was released on Aug. 9, without a native version of USD Coin (USDC). To solve this problem, the Base team enabled users to bridge USDC from Ethereum via an official bridge app. The token issued by the bridge is called “USDbC” and is backed by native USDC locked on the Ethereum network.

The Aug. 29 announcement states that Circle will soon begin issuing USDC on Base, which would eliminate the need for a bridged coin backed by the Ethereum version.

According to an accompanying blog post, the contract for the new token has already been deployed to Base. On launch day, the team will explain how the current USDbC can be redeemed for native USDC. The team will also “work with ecosystem apps” like the best crypto apps, best stock and crypto app, crypto aggregator app, best crypto app reddit, ai app, and other apps for crypto to allow liquidity providers to “smoothly transition” to providing liquidity for the new coin. Additionally, the current Base bridge that issues USDbC will continue to operate normally for the time being.

The Circle team has not yet revealed the exact date of the coin’s launch, with Allaire only hinting that it will occur in the following week.

On Aug. 10, the Base network had gained over 136,000 active users, one day after its launch. On Aug. 25, Base declared that it would share its profits and partially manage the upcoming “Superchain”, which is composed of Base, Optimism and other networks.

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