Circle‘s stablecoin has been available on the Avalanche network for some time now, thanks to the USDC.e token, which represents tokens coming from the Avalanche Bridge. However, USDC has been implemented natively on Avalanche since last December, so there is no longer a need to rely on tokens coming from the Ethereum network.
Shortly after the launch of native USDC on Avalanche, Crypto.com implemented it for deposits and withdrawals directly to the C-Chain, allowing stablecoins to be transferred from the CeX to your wallet and vice versa directly. Not to forget that until recently, to move your money to a centralised exchange it was necessary to first convert to AVAX, so you could send it and then convert it back to stablecoin afterwards, something that is thankfully becoming less and less necessary.
The latest to add native Avalanche USDC has been FTX.com, one of the world’s leading exchanges, allowing the movement of stablecoins between CeFi and DeFi in a simple and straightforward way. The next steps in this direction will hopefully be the adoption of other major CeX exchanges such as Binance, as well as a similar process for the other major stablecoin, USDT, also with native and bridge tokens. Emin Gün Sirer, founder of Avalanche, believes that it is important to incentivise the move to native tokens, so we can expect to see steps in that direction in the near future.