Circle has announced a new integration with the Solana blockchain on June 12, expanding its Web3 Services to include Programmable Wallets and Gas Stations. This move aims to simplify the development process and enhance user experience on Solana.
The Programmable Wallets offered by Circle provide APIs and SDKs that abstract the complexities of blockchain infrastructure, allowing developers to focus on application and business growth. This service now supports Solana, Ethereum, Polygon PoS, and Avalanche, with plans to include non-fungible tokens (NFTs) and smart contract interactions in future updates.
The Solana developer community has seen significant growth, with a thriving ecosystem creating innovative applications. Circle’s goal of promoting global economic prosperity through seamless value exchange aligns well with Solana’s adoption of payment use cases.
The rollout of Solana support within Circle’s Web3 Services will happen gradually. The initial phase includes enabling support for Programmable Wallets and Gas Stations on Solana, with APIs facilitating token transfers and the ability to sponsor transaction fees for users. Future updates will expand support to NFTs and program interactions through the Smart Contract Platform, unlocking new use cases such as NFT integration for loyalty programs and gaming.
Despite market instability, Circle’s stablecoin USDC has surpassed Tether’s USDT in transaction volume, recording $456 billion compared to USDT’s $89 billion. While Tether remains the dominant stablecoin by market share, USDC’s growth is driven by its use as a transaction currency within the US. This growth follows increased stablecoin adoption, with major companies like Stripe, PayPal, and Shopify embracing stablecoin payments.
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