USDC: Onchain Dollars

This week’s token highlight is USDC, one of the most widely adopted stablecoins across chains.

Imagine your salary landing directly onchain and starting to generate DeFi yield the moment it arrives. This isn’t hypothetical. It’s possible today with Fluidkey, thanks to the robust ecosystem that has formed around USDC.

The common flow from receiving your salary to earning yield onchain is full of friction: you have to go through a centralized exchange, move your money into your self-custodial wallet, connect to lending protocols.

With Fluidkey, that flow compresses into a single action. Your salary can arrive directly onchain in USDC and start earning yield the moment it lands. This is made possible by the widespread adoption of USDC from bank rail infrastructure like bridge.xyz to lending markets like Morpho.

Across EVM-compatible chains, USDC and USDT dominate stablecoin adoption and volumes.

Network effects are critical to a stablecoin’s success. USDC is widely accepted and trusted across exchanges, on-/offramps, and defi protocols, which in turn improves available liquidity and competitive rates.

These network effects feed on themselves, further strengthening USDC’s utility as a settlement layer and collateral asset.

For a macro view of stablecoin dynamics, the Artemis stablecoin dashboard offers a comprehensive view.

On Fluidkey, USDC enables:

• access to instant yield across all chains via Morpho and Aave

• sending and receiving bank transfers directly from your self-custodial balance in one click

• swaps to other assets at extremely competitive rates

We are excited to see stablecoins like USDC play a critical role in bringing finance and payments onchain.

Note that none of our highlights are financial advice. The value of any of the tokens highlighted may go to zero.

There are many more noteworthy stablecoins we intend to cover in future highlights, from yield-bearing, to decentralized, to non-USD options.

See you next week!