The Official Blog of Circle and USDC

Native USDC Now Available on ZKsync

Written by Team Circle | April 9, 2024

We’re excited to announce that native USDC is now available on ZKsync and accessible to developers and users – no bridging required. Circle Mint and Circle APIs now fully support USDC on ZKsync.

 

About ZKsync

ZKsync is a leading layer 2 (L2) rollup that is hyperscaling Ethereum through zero-knowledge tech while leveraging its security.1 Zero-knowledge rollups (ZK-rollups) boost Ethereum's capacity by handling many transactions off-chain and submitting only essential data back to Ethereum. 

Businesses and developers use ZKsync to benefit from fast, low cost transactions and native account abstraction. ZKsync is on a mission to increase Ethereum’s throughput, and to fully preserve its foundational values of freedom, self-sovereignty, and decentralization at scale. 

Benefits of building on ZKsync:

  • Built-in account abstraction to enable social recovery for wallets, subscription payments, and paying network fees in USDC
  • Low cost transactions due to its unique data compression process 
  • Enhanced security from ZK cryptographic proofs to provide transaction validity 
  • Scaling with ZK Stack - a developer-friendly framework for deploying custom and interoperable "hyperchains” that share users and liquidity. Learn more about hyperchains. 

As of April 9, 2024, the ZKsync ecosystem includes 180+ dApps and over 5.7 million unique active wallet addresses over the last 30 days.2 Businesses and developers interested in designing for DeFi and mainstream user experiences can now choose USDC on ZKsync for payments, remittances, trading, borrowing, lending and more.

 

Understanding native vs. bridged

Circle brings USDC natively to new blockchain networks to empower developers to build on a stable foundation they can trust. Native USDC is officially issued by Circle and is always redeemable 1:1 for US dollars.3

In the case of ZKsync, there also exists a “bridged” form of USDC known as USDC.e, which is USDC that has been bridged from Ethereum. Bridged USDC (USDC.e) is not issued by Circle.

 

Bridged USDC from Ethereum

Native USDC issued by Circle

Developers can view our migration guide for options on migrating bridged USDC to native USDC in their apps.  

Please do not attempt to send bridged USDC.e on ZKsync to your Circle Mint account, as it may not be recoverable and could result in a loss of funds.

 

Powering new use cases

Exchanges, digital wallets, institutional traders, and developers can access USDC on ZKsync for a number of use cases:

  • Making low-cost payments and remittances globally that can settle in seconds
  • 24/7 trading, borrowing, and lending on apps like Koi Finance, SyncSwap, and ZeroLend
  • Holding savings in digital dollars without needing a traditional bank account

Get started today

Businesses can readily access on/off-ramps for converting fiat currency to USDC on ZKsync by applying for a Circle Mint account.

Developers can start building with USDC on ZKsync with our developer docs – USDC is an open-source, permissionless protocol that anyone can build on.




1 https://zksync.io/  (Last accessed Apr 9, 2024)

2 https://zksync.dappradar.com/  (Last accessed Apr 9, 2024)

3. Circle Mint enables its users – liquidity providers and qualified businesses – to redeem USDC 1:1 for USD. Developers and users can use digital wallets and exchanges to convert between USDC and local currency.
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