Circle deploys USDC on Layer 2 networks OP Mainnet and Base

Stablecoin issuer Circle has deployed USDC -0.031% on Layer 2 blockchains OP -2.74% Mainnet and Base, expanding the native availability of the the dollar-backed stablecoin. 

The firm noted that businesses can now directly use on/off-ramps for USDC on the OP Mainnet and Base networks by connecting their accounts with Circle. Previously, stablecoin transactions on these networks would have had to be bridged through the Ethereum ETH -1.17% network, potentially encountering higher fees.

OP Mainnet and Base are Layer 2 networks designed to scale Ethereum applications. They make use of Optimistic Rollups and are developed using the OP Stack, collectively hosting over $1 billion in total value locked.

USDC on OP Mainnet

The supply of native USDC currently on OP Mainnet stands at just under 25 million, while the number on Base is 19.8 million, per on-chain data.

Circle said that its native USDC stablecoin is now available on a total of 11 blockchains, including Ethereum, Solana SOL +2.23% , Arbitrum ARB -1.48% , Polygon MATIC -3.80% PoS, Tron and Polkadot DOT -0.20% .