Agoric, a layer 1 blockchain designed for multi-chain orchestration, has recently announced a strategic partnership with Noble, the premier RWA issuance chain in the modular ecosystem. The collaboration aims to build Fast USDC, a solution that will significantly reduce wait times when transferring USDC from Ethereum and other EVM-compatible chains into the Cosmos ecosystem using the Noble Express application. By simplifying the process, Fast USDC will enhance user experience and expedite onboarding for Web3 services.
Stablecoins, which are currently valued at over $100 billion, have emerged as a key application in the web3 space. Circle, a leading player in the space, has been driving cross-chain transfers with their Cross-Chain Transfer Protocol (CCTP) to streamline the process of sending USDC from one blockchain to another. Agoric leverages this transfer protocol but takes it a step further with the introduction of Fast USDC.
One of the main challenges in the Web3 economy has been the slow and complex nature of transferring assets across different blockchain networks. This has created barriers to user adoption and growth, with traditional cross-chain transfers of USDC taking up to 20 minutes due to finality challenges on certain blockchains. Fast USDC aims to address this issue by utilizing Noble’s minimalist architecture to enable quick cross-chain transfers from Ethereum and other EVM chains to Cosmos chains.
Fast USDC operates through an on-chain Agoric Orchestration contract that interacts with accounts on the Noble chain, ensuring a secure flow of funds. With an innovative settlement model, users can receive USDC almost instantly, reducing transfer times from 20 minutes to less than 2 minutes. This not only speeds up the process but also lays the groundwork for achieving chain abstraction, allowing developers to embed Fast USDC into Agoric Orchestration contracts for enhanced user experiences across multiple chains with just a single user signature.
Key features and benefits of Fast USDC include rapid transfers and orchestration, enhanced user experience, and decentralized on-chain management of assets. The collaboration between Agoric and Noble highlights their shared vision of simplifying blockchain technology to drive mainstream adoption.
Fast USDC will soon be available across major blockchain platforms, empowering developers and users with a powerful tool to enhance the speed and usability of decentralized applications. This partnership represents a significant step towards making Web3 experiences more accessible and user-friendly.
For more information on Fast USDC and its integration with Agoric’s orchestration solutions and Noble’s RWA framework, visit agoric.com and noble.xyz.
About Agoric:
Agoric is a layer 1 blockchain for orchestration, bringing composability and interoperability to the Web3 landscape. Founded by renowned computer scientists Dean Tribble and Mark Miller, Agoric’s innovative technology aims to unlock a new era of universal liquidity.
About Noble:
Noble is a leading asset issuance chain in the modular ecosystem, solving critical pain points around native issuance. With a focus on security, liquidity, compliance, standardization, and neutrality, Noble aims to be a UX unlock for stablecoin and RWA issuers.