What you need to know: Native USDC on Base
Welcome to #StableSeptember, a series where we provide a preview of what it means to bring native USDC to new blockchain ecosystems. Take a look below for what you need to know about the upcoming launch of native USDC on Base.
Native to Base
USDC issued by Circle will be native to Base and can be considered the official form of USDC for the ecosystem. Over time, we expect native USDC liquidity will grow and may replace the currently circulating bridged USDbC liquidity that comes from Ethereum. Bringing native USDC to Base provides the following benefits for developers and users:
- Fully reserved and always redeemable 1:1 for US dollars
- Enables institutional on/off-ramps
What You Need to Know
On the upcoming launch day for native USDC, @BuildOnBase will share details on the ecosystem apps that will offer easy ways to seamlessly swap from bridged USDbC to USDC.
- Bridged USDC from Ethereum
Token Symbol: USDbC
Token Address: 0xd9aAEc86B65D86f6A7B5B1b0c42FFA531710b6CA
- Native USDC issued by Circle
Token Symbol : USDC
Token Address : 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
Regarding liquidity migration, Base will work with ecosystem apps to provide an optional smooth transition of liquidity from USDbC to USDC over time. There will be no immediate changes to Base Bridge and it will continue to operate normally.
We’re very excited about what native USDC means for the Base ecosystem! Stay tuned for more details as #StableSeptember begins.