$USDC
On May 1, the Sam Altman-backed blockchain project announced its collaboration with the stablecoin giant following its limited expansion into the U.S.
According to the official announcement, World Worldcoin
-5.22%
Worldcoin Chain plans to integrate the company’s stablecoin, USD Coin USDC
-0.01%
USDC, as well its CCTP V2 mechanism to its World Chain. First introduced in April 2023, CCTP V2 is an upgraded version of Circle’s Cross-Chain Transfer Protocol, designed to enable faster and more efficient USDC transfers across blockchains.
The integration would allow nearly two million verified users on World who already hold bridged USDC in their World App wallets to convert them into native USDC. This means all their stablecoin assets will be backed on a 1:1 ratio with U.S. dollars and other cash-equivalent assets.
Not only that, with the addition of CCTP V2 to World Chain, users will be able to transfer USDC across various chains in a faster and more cost effective way.
“The combo accelerates World Network while opening up access to USDC to more humans in economies that can benefit from a fully-reserved digital dollar,” wrote World project in its official statement.