Circle deploys USDC on Layer 2 networks OP Mainnet and Base

Stablecoin issuer Circle has deployed USDC on Layer 2 networks OP Mainnet and Base, expanding the availability of the the dollar-backed stablecoin. 

The firm noted that businesses can now use on/off-ramps for USDC directly on OP Mainnet and Base networks by connecting their accounts with Circle. Previously, these transactions would have had to go through the Ethereum 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, Arbitrum, Polygon PoS, Tron and Polkadot.