USD Coin (USDC) Issuer Circle clearly To fully support the post-merge Ethereum (ETH) Proof of Stake (PoS) chain.
According to an Aug. 9 blog post, the stablecoin issuer looked forward to “unlocking future scaling opportunities (merges) to reduce the network’s energy consumption profile.”
We have not speculated about the possibility of a post-merger fork of the Ethereum mainnet, but USDC as an Ethereum asset can only exist as a single valid “version” and, as mentioned above, an upgraded Ethereum PoS chain. The only plan is to fully support .
Additionally, the issuer clarified that there were no issues with the merge and that USDC will work efficiently on the PoS blockchain.
Circle’s test environment is connected to the Goerli Ethereum testnet and will be integrated with Prater over the next few days, so we will be monitoring it closely.
This means that USDT and USDC, the two largest stablecoins in the crypto space, will not support a potential hard fork of ETH.
Circle’s USDC is not only the largest fiat-backed stablecoin on Ethereum, but also the largest ERC-20 asset in the ecosystem.
Meanwhile, cryptocurrency exchanges such as Huobi, OKX, Poloniex and BitMEX have revealed that they will support ETH hard forks if there is enough demand in the market.
