USDC To Be Issued on the Kava DeFi Platform
The World’s Leading Dollar Stablecoin to Join Kava as a Native Integration
On June 29th, 2021, Centre announced a plan to issue U.S. dollar-pegged stablecoin $USDC on Kava, DeFi’s most trusted, scalable and secure institutional grade DeFi platform. The addition of USDC to Kava is an important step forward in Centre’s objective of growing the internet of value and driving individual and enterprise adoption of open blockchain technologies. Implementing USDC on the Kava Platform will help enhance network effects and support wide interoperability among institutional grade payment infrastructures.
Centre, the consortium supporting the USDC stablecoin and founded by Circle and Coinbase, announced that they will issue USDC on Kava. This integration will bring together USDC and Kava, the world’s most trusted digital dollar with the world’s most trusted DeFi platform.
What It Means
Bringing USDC onto the Kava DeFi Platform furthers Kava’s mission to onboard the most valuable, institutional grade products onto the Kava ecosystem. USDC will bring thousands of new users and potentially billions of USD onto the Kava Platform and will help Kava become the most trusted destination for DeFi products and services.
Immediate use cases for USDC native integration on the Kava Platform include:
- USDC will be added directly to Kava’s fully integrated suite of financial products and available directly across the Kava Protocol, Hard Protocol, and Kava Swap Protocol.
- Kava’s 250,000+ users and 30+ direct integration partners will gain the ability to immediately move cash directly onto the Kava Platform
- USDC will provide new, high-yield opportunities to Kava users.
- Kava stability and security will be strengthened by adding the world’s most widely used digital dollar as a stable-coin of choice for lending, borrowing, and trading assets onchain.
- Kava becomes the first blockchain to natively integrate USDC and distribute it across the Cosmos ecosystem with Kava’s multi-chain bridges and Chainlink oracle network integration.
“Kava is honored to be chosen by Centre and its partners like Circle and Coinbase as a trusted partner for its $25B in assets under management. The native USDC integration will be the largest fiat onramp to Kava, allowing users to move USD easily to the platform and gain direct access to all of Kava’s financial products. This will help remove user friction and help significantly increase usage, performance, and the security of Kava, strengthening its position as DeFi’s institutional ready cryptocurrency platform.”
Brian Kerr — Chief Executive Officer, Kava Labs
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