• Arbitrum and Circle to launch native USDC on the platform on June 8.
• ARB price increased by almost 8% in the last 24 hours.

Arbitrum [ARB] recently made an intriguing revelation regarding the future of one of its bridged stablecoins. They have declared a gradual phasing out of this stablecoin on their network.

The news coincides with the announcement of the official launch date for the native version of the stablecoin on the Arbitrum platform.

Native USDC on Arbitrum

On June 1, Arbitrum and Circle made an exciting joint announcement about the upcoming native launch of USDC on the Arbitrum network. According to the official release, the highly anticipated native version of USDC was scheduled to go live on June 8.

This launch would gradually replace the existing bridged version of USDC from Ethereum, and the bridged version would also undergo a renaming process.

Plans have been implemented to facilitate the gradual shift of liquidity from the bridged USDC to the native USDC over time.

Notably, the announcement clarified that there would be no immediate changes to the functionality of the Arbitrum Bridge, which would continue to operate normally for bridging USDC to and from Ethereum.

Furthermore, Circle expressed its intention to introduce the Cross-Chain Transfer Protocol (CCTP) to Arbitrum following the successful launch of

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Author: Suzuki Shillsalot

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