1/8 Why I am excited about major Asia exchanges launching support for USDC on Algorand rails. Fast, nearly free, USDC market infrastructure. https://community.algorand.org/blog/stablecoin-use-accelerates-on-algorand-with-exchange-support-that-provides-mainstream-community-access/

2/8 USDC growth has been tremendous, but in parts of Asia exchange markets we have work to do to grow usage. Enabling market participants to move USDC between venues in seconds with nearly zero fees is critical to broader use as a settlement system.

3/8 Looking at USDT, the dominant chain for transactions is on Tron, because of speed and cost. USDC on Ethereum suffers massively from speed and cost issues. Traders care about speed and cost.

4/8 An enormous amount of market volume happens on these exchanges. When you add FTX, which now offers Solana USDC, you start to get reliable dollar market infrastructure across a massive amount of the crypto markets.

5/8 These flywheels are going to keep going, we expect more exchanges in more markets to add faster USDC on chains like Solana, Algorand and Stellar. Faster USDC helps everyone. There will be more chains with USDC.

6/8 When exchanges light this up, and start matching USDC against local currencies, we start to see a truly global settlement network emerge, organically, on open rails.

7/8 Then people can move value on the internet nearly instantly and nearly free. That's exciting for builders!

8/8 USDC is now lit-up on exchanges that cover 200 countries and offer markets that can convert into 25 major currencies, with bank rails. What can we all build with that? This is all accelerating really fast.