Circle invests in Layer 1 blockchain Sei to unlock USDC use cases
Layer 1 Blockchain Sei Circle Accepts USDC When Making Strategic Investment USDC Offers Faster and Faster Transaction Settlements for Sei Developers and Entrepreneurs
Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has made a strategic investment in Layer 1 blockchain Sei, the companies announced on Wednesday.
The strategic investment will include a go-to-market advisory around Circle's stablecoin infrastructure, Sei's team said. Stablecoin integration allows developers and entrepreneurs to benefit from USDC's global low-cost and instant transaction settlements as they build and deploy products.
It also means improved cross-border transactions and liquidity for users and developers on the Sei network.
Sami Karim, director of the Sey Foundation, said: “The entire Sey team is excited to work strategically with Circle Ventures to create new use cases for USDC.
Karim Stablecoin is becoming critical to the overall growth of the crypto industry. Seay adds that it will provide the scalable infrastructure needed to accommodate this demand.
USDC expansion continues.
Circle's USDC is the second largest stablecoin in the market behind USDT, and has seen massive expansion across the ecosystem. The stablecoin recently expanded to the Ethereum layer 2 network.
As CoinJournal reported in August, a partnership between Circle and Optimism brought USDC to the OP Mainnet, allowing institutional on- and off-platform access to and from the platform.
Sei, which officially launched its mainnet in August, raised $30 million in a round led by Jump Crypto and Multicoin Capital in April. It also received $50 million from crypto exchange Bitget and venture firm Foresight.
