The USD Coin (USDC) consortium Centre has originated a stablecoin on Hedera Hashgraph.
This is the first stablecoin in the Hedera Hashgraph.
"The launch of the USDC marks an important step in making it easier to develop and launch DeFi applications," the organization said. Hedera Hashgraph uses Directed Acyclic Graphs (DAGs) without grouping transactions into blocks. According to the developers, the technology used allows achieving high performance (up to 10,000 TPS), low latency, and sustainable energy efficiency.
At the time of writing, the governing board consists of 23 members, including Boeing, Google, LG Group, Nomura Holdings, Deutsche Telekom, Tata Communications, London School of Economics, and Political Science.
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These organizations run the nodes on the network. Over time, Hedera expects to move away from the current centralization.
In September, the Governing Council approved a plan to allocate 10.7 billion HBAR tokens (~ $ 3.85 billion) to stimulate projects to develop the network's ecosystem.
It is planned to provide grants to developers, startups, and other organizations to accelerate the implementation of the Hedera network for a wide range of applications in the areas of DeFi, NFT, CBDC, gaming, and others.
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Shane Higdon, CEO of the HBAR Foundation, said the support for USDC could force network members to consider use cases such as securitization and supply chain tracking platforms.