Circle deploys USDC on Sei and invests in Layer 1

Visit stablecoin USDC lands on the Sei blockchain network. The L1 project at the same time received a investment of the american fintech.

On Wednesday, Sei Labs announced that it had begun native integration of theUSD Coin (USDC) to its network Sei.

Circle’s stablecoin dollar was already offered on a number of blockchains, including Ethereum and Avalanche. It recently made its debut on Base, layer2 of the Coinbase exchange.

As crypto matures, stablecoins will become increasingly relevant to the overall growth of the industry,” commented Samy Karim, director of the Sei Foundation.

Sei Labs also revealed that it had received a strategic investmentan undisclosed amount, from Circle.

Wyatt Lonergan, Director of Circle Ventures, welcomed the alliance.

“The Sei ecosystem aligns with our commitment to working with founders and teams dedicated to open and programmable commerce. We look forward to working closely with the Sei team on USDC integration for developers and users to enable fast and profitable transactions on the network,” he said.

Sei Labs raised $30 million in spring 2023 from Multicoin Capital and Jump Crypto. The startup launched its Layer 1 blockchain last August.

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