{"id":"bridged-usdc-on-polygon-pos","title":"Bridged USDC on Polygon PoS","content":"**Bridged USDC (Polygon PoS Bridge)** refers to a version of the [USD Coin (USDC)](https://iq.wiki/wiki/usdc) [stablecoin](https://iq.wiki/wiki/stablecoin) that was transferred from the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain) to the [Polygon](https://iq.wiki/wiki/polygon) [Proof-of-Stake (PoS)](https://iq.wiki/wiki/proof-of-stake) network via a bridging mechanism. This bridged asset, often identified as USDC.e, was distinct from the native [USDC](https://iq.wiki/wiki/usdc) issued directly on [Polygon](https://iq.wiki/wiki/polygon) PoS by [Circle](https://iq.wiki/wiki/circle). [\\[1\\]](#cite-id-8pHHRdUDuP)\n\n![](https://ipfs.everipedia.org/ipfs/QmYWBkHNEEcn3j8GXQ8NpAg6StP3uonw4Ae5dmkoFTGQQS)\n\n## Overview\n\n[Polygon](https://iq.wiki/wiki/polygon) PoS network has utilized bridged versions of [USDC](https://iq.wiki/wiki/usdc), such as USDC.e, which originated from [Ethereum](https://iq.wiki/wiki/ethereum) and were moved across the [Polygon](https://iq.wiki/wiki/polygon) Bridge. This allowed for the use of [USDC](https://iq.wiki/wiki/usdc) within the [Polygon](https://iq.wiki/wiki/polygon) ecosystem. [Polygon](https://iq.wiki/wiki/polygon) PoS is a scalable blockchain designed to complement [Ethereum](https://iq.wiki/wiki/ethereum)'s security by offering improved transaction speeds and reduced costs, making it suitable for a wide range of [decentralized applications](https://iq.wiki/wiki/decentralized-application).\n\nHowever, [Circle](https://iq.wiki/wiki/circle), the issuer of [USDC](https://iq.wiki/wiki/usdc), transitioned its support to a native version of [USDC](https://iq.wiki/wiki/usdc) directly issued on the [Polygon](https://iq.wiki/wiki/polygon) PoS [blockchain](https://iq.wiki/wiki/blockchain). This strategic shift aimed to streamline the stablecoin's presence and functionality within the [Polygon](https://iq.wiki/wiki/polygon) ecosystem, ensuring a more direct and secure integration for users and developers. The native [USDC](https://iq.wiki/wiki/usdc) on [Polygon](https://iq.wiki/wiki/polygon) PoS is directly issued and redeemable 1:1 for US dollars, backed by [Circle's](https://iq.wiki/wiki/circle) reserves. [\\[2\\]](#cite-id-VRSd56Ueyf) [\\[3\\]](#cite-id-0v3XEb4GhV)\n\n## Use Cases\n\nNative [USDC](https://iq.wiki/wiki/usdc) on [Polygon](https://iq.wiki/wiki/polygon) PoS is utilized across a variety of applications and services within the [Polygon](https://iq.wiki/wiki/polygon) ecosystem, benefiting from the network's low transaction fees and high throughput. Popular applications that integrate native [USDC](https://iq.wiki/wiki/usdc) on [Polygon](https://iq.wiki/wiki/polygon) PoS include:\n\n* **Decentralized Finance (DeFi):** Lending protocols like [AAVE](https://iq.wiki/wiki/aave) and [Compound](https://iq.wiki/wiki/compound), [decentralized exchanges (DEXs)](https://iq.wiki/wiki/decentralized-exchange) such as Curve, [Quickswap](https://iq.wiki/wiki/quickswap), and [Uniswap](https://iq.wiki/wiki/uniswap), leverage native [USDC](https://iq.wiki/wiki/usdc) for liquidity provision, trading, and yield farming [\\[2\\]](#cite-id-VRSd56Ueyf)\n* **Payments:** [USDC](https://iq.wiki/wiki/usdc) facilitates low-cost, near-instant global payments, enabling businesses and individuals to conduct cross-border transactions efficiently [\\[6\\]](#cite-id-ugrW9mHTrb)\n* **Dollar Access:** It provides a stable store of value, offering access to a digital dollar worldwide, particularly in regions with volatile local currencies [\\[7\\]](#cite-id-7yo3tW1gOI)\n* **Trading Services:** Native [USDC](https://iq.wiki/wiki/usdc) powers liquid financial markets, providing a regulated [stablecoin](https://iq.wiki/wiki/stablecoin) for trading and market making activities [\\[8\\]](#cite-id-ory8RpW0X6)\n\n## Tokenomics\n\nThe token maintains a 1:1 peg to the U.S. dollar and is issued by [Circle](https://iq.wiki/wiki/circle). Its max total supply on [Polygon](https://iq.wiki/wiki/polygon) is 662.2 million [USDC](https://iq.wiki/wiki/usdc), with an on-chain market capitalization of around $662.1 million. The broader circulating market cap of [USDC](https://iq.wiki/wiki/usdc) across all chains stands at over $64.7 billion. With more than 152 million total transfers and nearly 2 million holders, the token supports stable, scalable value exchange within the [Polygon](https://iq.wiki/wiki/polygon) [DeFi](https://iq.wiki/wiki/defi) ecosystem.  [\\[10\\]](#cite-id-gIZHx9u6xG)","summary":"USDC.e on Polygon PoS is bridged, non-native USDC from Ethereum; Circle stopped supporting its deposits/withdrawals via Circle Mint as of Nov 10, 2023, favoring native USDC.","images":[{"id":"QmaFgFyMVs6foEszQ9ejMDm8rhYiz1szxPGdzxWahDh4P5","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"cryptocurrencies"}],"tags":[{"id":"Stablecoins"},{"id":"Polygon"},{"id":"Ethereum"},{"id":"Protocols"},{"id":"Blockchains"}],"media":[{"id":"QmYWBkHNEEcn3j8GXQ8NpAg6StP3uonw4Ae5dmkoFTGQQS","name":"67116d0daddc92483c813eaa_blog_launch_PolygonPoS.jpeg","caption":"","thumbnail":"QmYWBkHNEEcn3j8GXQ8NpAg6StP3uonw4Ae5dmkoFTGQQS","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[{\"id\":\"8pHHRdUDuP\",\"url\":\"https://polygon.technology/polygon-pos\",\"description\":\"Polygon PoS overview\",\"timestamp\":1753370249417},{\"id\":\"VRSd56Ueyf\",\"url\":\"https://www.circle.com/multi-chain-usdc/polygon\",\"description\":\"USDC on Polygon PoS details\",\"timestamp\":1753370249417},{\"id\":\"0v3XEb4GhV\",\"url\":\"https://www.circle.com/transparency\",\"description\":\"USDC reserve transparency\",\"timestamp\":1753370249417},{\"id\":\"MR5qtWYK1U\",\"url\":\"https://polygonscan.com/token/0x2791bca1f2de4661ed88a30c99a7a9449aa84174\",\"description\":\"Bridged USDC.e contract address\",\"timestamp\":1753370249417},{\"id\":\"aWb1LbkhhZ\",\"url\":\"https://polygonscan.com/token/0x3c499c542cef5e3811e1192ce70d8cc03d5c3359\",\"description\":\"Native USDC on Polygon PoS contract address\",\"timestamp\":1753370249417},{\"id\":\"YDcKs2EZcV\",\"url\":\"https://help.circle.com/s/article-page?articleId=ka08b000000av9EAAQ#-72\",\"description\":\"Circle Help Center article on USDC.e discontinuation\",\"timestamp\":1753370249417},{\"id\":\"ugrW9mHTrb\",\"url\":\"https://www.circle.com/use-case/payments\",\"description\":\"Payments use case\",\"timestamp\":1753370249417},{\"id\":\"7yo3tW1gOI\",\"url\":\"https://www.circle.com/use-case/dollar-access\",\"description\":\"Dollar Access use case\",\"timestamp\":1753370249417},{\"id\":\"ory8RpW0X6\",\"url\":\"https://www.circle.com/use-case/trading-services\",\"description\":\"Trading Services use case\",\"timestamp\":1753370249417},{\"id\":\"gIZHx9u6xG\",\"url\":\"https://www.circle.com/cpn\",\"description\":\"Circle Payments Network\",\"timestamp\":1753370249417}]"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/bridged-usdc-polygon-pos-bridge"},{"id":"polygonscan","value":"https://polygonscan.com/token/0x2791bca1f2de4661ed88a30c99a7a9449aa84174"},{"id":"website","value":"https://polygon.technology/polygon-pos"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/Qmc57TSWSp5WuYfFGeVkMXpJzs4ccZrNGma9FCAeZrDKek\""},{"id":"commit-message","value":"\"Adjust citations and add internal link to Bridged USDC (Polygon PoS Bridge) article.\""},{"id":"previous_cid","value":"Qmc57TSWSp5WuYfFGeVkMXpJzs4ccZrNGma9FCAeZrDKek"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":["polygon","ethereum"],"founders":["anon"],"speakers":[]}}