How WalletConnect's 'On-Chain Connector' Helps Stablecoins Access Web3; Who Will Follow USDG?
Recently, WalletConnect officially announced its integration into the global dollar network, bringing changes to the USDG stablecoin that are more than just 'an additional usage channel'. It's important to understand that USDG, as a regulated stablecoin, could previously only circulate on a few compliant platforms. For example, if a user wanted to swap USDG for ETH on Uniswap, they would first need to transfer USDG to an exchange that supports it, convert it to USDT, withdraw to a wallet, and then finally operate on Uniswap. This process involved three or four steps and several gas fees.
However, after integrating with WalletConnect, the situation has completely changed—now users simply need to add USDG assets in their wallet and connect to mainstream DApps like Uniswap and Aave with one click, allowing them to directly swap coins or invest with USDG. The entire process does not require jumping to any third-party platform and can be completed in just a few minutes. More crucially, WalletConnect covers over 70,000 DApps and 50 million users, meaning USDG can instantly reach the core user base within the Web3 ecosystem, making transactions smoother for regular users as well as for institutions using USDG for cross-chain settlements.
And this is just the beginning. Currently, although mainstream stablecoins like USDC and USDT have broad ecosystems in Web3, they still face challenges in cross-chain use; for instance, USDT cannot directly communicate between the Solana and Ethereum chains. If in the future USDC and USDT deepen their collaboration with WalletConnect, leveraging its full-chain interoperability, users might be able to operate Solana chain projects directly using Ethereum chain USDC within a single DApp, eliminating the need for repeated cross-chain withdrawals. At that point, the circulation efficiency of the entire Web3 stablecoin ecosystem will greatly improve, and the value of WalletConnect as a 'connector' will become more prominent.