SAN FRANCISCO, CA, June 22, 2021 — Public Mint, the fiat-native public blockchain ecosystem, is excited to announce that Circle’s USD Coin (USDC) will now be natively integrated with the Public Mint blockchain, providing a simple gateway to connect Public Mint’s fiat-centric network to the vibrant DeFi ecosystem on Ethereum – and potentially other major networks where USDC is supported in the future. USDC is the leading US-based regulated stablecoin, with over $23 billion in circulation across blockchains like Ethereum, Solana, Algorand and Stellar.
The integration will initially allow Public Mint Partners to deposit from USDC and withdraw to USDC at their addresses via APIs, enabling seamless transfers of liquidity between Public Mint and Ethereum. This functionality is being added to the core Public Mint web wallet and will be rolled out to all Public Mint customers soon.
The two-way USDC bridge enables key Public Mint functionality for both end users and institutional/DeFi-native players wishing to access the EARN program. For non-crypto-savvy retail users, Public Mint also potentially becomes the perfect onboarding platform to access the cryptocurrency space, making use of various DeFi yield and income opportunities.
The USDC deposit functionality is equally attractive for crypto-native users and investment funds as it enables access to Public Mint’s EARN program, a multi-source earnings application that focuses on providing the highest possible earnings while spreading risk across multiple sources.
By using both DeFi and CeFi opportunities, the platform effectively balances counterparty and smart contract risks. A single smart contract hack, or failure of one of the CeFi partners, would have minimal consequences to funds on EARN, thanks in part to additional insurance coverage across CeFi and innovative DeFi protocols.
“Integrating USDC is a major step forward in the Public Mint roadmap, and we are extremely satisfied to have now closed the deal,” said Paulo Rodrigues, CEO of Public Mint. “USDC is one of the most trusted and regulated stablecoins, and it has a truly global footprint across multiple networks. This makes it the perfect tool to connect Public Mint to the major blockchain ecosystems, starting with Ethereum.”