USD Coin (USDC)

Polkadot USDC users should avoid depositing XCM-transferred coins from parachains besides Polkadot Asset Hub, as funds may be lost, Circle cautioned.

A recent report revealed Binance’s USD Coin reserves dropped from $3.4 billion to $23.9 million from March to May, raising questions about whether the exchange used the funds to acquire crypto assets independently.

The Noble team has announced that USDC, the first native, fiat-backed stablecoin, will soon be available on the Cosmos ecosystem through their network, leveraging the Inter-Blockchain Communication Protocol to solve asset transfer challenges.