The Provenance Blockchain Foundation and Noble announced that USDC on Noble is now available to participants on the Provenance Blockchain, which is dedicated to modernizing financial services and is purpose-built for regulated financial institutions, fintechs, and DeFi brands.
USDC is issued on Noble and sent via Inter-Blockchain Communication (IBC), which is accessible for Provenance Blockchain participants. Through this integration, those holding USDC on Noble can now easily participate in applications in the Provenance Blockchain Network, including tokenized real-world assets. As of March 31, 2024, Provenance Blockchain stands out as one of the world’s largest blockchain networks with over $10 billion in total value locked of real-world financial assets under administration and $30 billion in supported transactions such as lending and securitization.
As the blockchain of choice for financial services institutions, Provenance Blockchain is part of an interchain ecosystem constructed using Cosmos SDK. Cosmos, which is a decentralized network of independent blockchains called appchains, allows for secure interconnection, communication and exchange of assets between separate blockchains.
Noble, which is an appchain purpose-built for native asset issuance in Cosmos, permits for various assets to move seamlessly between chains. Those assets, such as USDC, can be used in various spending, saving, borrowing and trading applications with digital dollars. Participants on Provenance Blockchain can now hold USDC via Noble and exchange it for other assets as warranted (including Provenance Blockchain’s native HASH utility token), or use it as a means to pay and charge for services or products.
For instance, Provenance Blockchain users can now use USDC via Noble with Oasis Pro Markets to diversify portfolios with private digital securities. Users can also onboard USDC from Noble via Kado, a fiat on- or off-ramp, then use IBC to send to Provenance using a wallet such as Leap Wallet and begin trading digital assets.
“We’re excited to welcome native USDC from Noble to the Provenance Blockchain ecosystem. Both Noble and Provenance Blockchain are clear leaders in the generational transformation of digital assets.” said Joshua Maddox, Head of Developer Ecosystem at the Provenance Blockchain Foundation. “The robust network of financial institutions, fintechs and developers in the Provenance Blockchain ecosystem now have another important tool to help build the new operating system for financial services.”
“We’re excited to bring USDC on Noble to the Provenance Blockchain, a platform that’s leading the real world asset ecosystem with nearly $13 billion in total value locked. This integration enhances the Provenance Blockchain ecosystem by eliminating the high costs and complexity of custodially-bridged stablecoins. Users now have a straightforward path to participate in Provenance’s suite of financial applications using a trusted and reliable stablecoin,” added Jelena Djuric, Founder of Noble.
To learn more about USDC on Noble and how it may be used with the Provenance Blockchain, please visit: https://nobleassets.xyz/
ABOUT PROVENANCE BLOCKCHAIN
Provenance Blockchain is modernizing financial services with properly permissioned, public blockchain technology. Since 2018, leading banks, asset managers and fintechs have leveraged the purpose-built Provenance Blockchain to deploy assets cheaper, faster, and safer than ever before. Provenance has become one of the world’s largest blockchain networks with over $10 billion of financial assets under administration and $30 billion in supported transactions, as of March 31, 2024.
The decentralized Provenance Blockchain is built with Cosmos SDK and uniquely balances open-source innovation, with the added benefit of institutional-grade risk and control functions built-in to the protocol. The native utility token, HASH, is used to pay transaction fees and enable governance. Please visit Provenance Blockchain at Provenance.io and follow us on Twitter @provenancefdn and on LinkedIn.
ABOUT NOBLE
Noble is a digital asset issuance platform that leverages core blockchain primitives and interoperability protocols such as the Inter-Blockchain Communication (“IBC”) protocol and the Cosmos SDK. Noble is an issuance platform for USDC, the fully-backed digital US dollar issued by Circle Internet Financial LLC, and provides access to over 80 blockchains leveraging an interoperable technology stack, including dYdX, Celestia, and Osmosis. Noble is purpose built for asset issuers to broaden the breadth and depth of usage of their assets within the blockchain ecosystem.
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