At Breakpoint 2022, Marcus Boorstin, the Director of Engineering at Circle, revealed that Circle, a peer-to-peer payments technology company, is focused on unlocking and opening real-world world utilities to on-chain transactions for businesses and developers. He further stated that the stablecoins involved are USDC and Euro Coin.
Apart from this, devs can access our “custody solution for operation,” such as designing NFT marketplaces and other DeFi products, the engineer explained. There will also be access to SDK and API through which fiat on and off ramps can be done for dApps created.
He added that the acquisition of Cybavo in July 2022 will be used to introduce direct custody solutions, manage nodes for smart contract deployment, as well as provide SDK for creating iOS and Android wallets.
Euro Coin coming to Solana
The Director also shared with the audience at the Solana event that Euro Coin will come to Solana in H1 of 2023. Integrating USDC and Euro coin in the same platform will expand utilities available for forex trading and make the trading experience faster using the Solana engine.
Furthermore, when Euro coin comes into Solana, users and businesses can use it as the base currency while carrying out trading, lending, and borrowing, all on-chain, Marcus explained. Solana pay will be accessible too for quicker and faster payment with Euro coin and USDC.
Marcus added that Circle’s cross-chain transfer protocol for USDC will be made available for Euro coin on Ethereum and Avalanche in January 2023, while later in the year, H1 2023, it will go live on Solana. This will make the Euro coin move across chains, and devs can create dApps that use the Euro coin.