MXC Exchange Commits To Integrating USDC-SPL on Solana

Place/Date: - March 4th, 2021 at 7:06 pm UTC · 4 min read
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MXC Exchange Commits To Integrating USDC-SPL on Solana

MXC Exchange, one of the fastest growing and leading crypto exchanges, does its part to further the USDC ecosystem. By adding support for USDC-SPL, a new chapter is added to the cryptocurrency industry.

USDC on the Solana blockchain (USDC-SPL) introduces an extra layer of convenience and accessibility. MXC Exchange plans to integrate USDC-SPL into its exchange offering, making it accessible to its global user base as quickly as possible. Going down this path ensures MXC Exchange users will have access to the cheapest and fastest options to transact with the USDC stablecoin.

The ongoing partnership between Circle and Solana dates back to October 2020. Like Tether’s USDT, Circle wants to bring its USDC stablecoin to multiple blockchains, allowing for unprecedented access, speed, and low fees. Solana’s benefits include better scalability, speed, and cost-efficiency in the market thanks to its growing list of integrations with projects and services.

All of the benefits provided by Solana will be made accessible to users of the MXC Exchange. Especially during volatile periods like today, there is an increasing interest in entering and exiting markets as quickly and efficiently as possible. Using trusted stablecoins, including USDC, makes that process more straightforward.

MXC VP of Global Business Katherine Deng states:

“At MXC Exchange, we always strive to give our users the best experience and access to a growing range of financial tools and assets. The ongoing growth in popularity of USDC and the benefits of the Solana ecosystem provide a scalable and efficient solution that will benefit our users globally.”

The support for the Solana ecosystem may be the first step in an ongoing process. Several opportunities are being explored, including different ways to invest in cryptocurrencies, OTC trading, and other ways to empower users of the MXC Exchange ecosystem. We will provide more information on these features and services accordingly.

The USDC market capitalization has increased from $427 million to $8.23 billion in the past year. This substantial increase confirms this pegged asset’s appeal and the role it will play in the future of cryptocurrency trading. As USDC becomes accessible across more efficient blockchains, the project and its partners will provide a better user experience.

About Solana

Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. Solana can currently handle 50,000 TPS with single transaction costs as low as $0.00001.

Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps across the network, improving overall network efficiency.

Combining these core innovations with decades of distributed systems research, Solana enables builders to easily deploy apps that are composable and unstoppable. Leading crypto projects like Serum, Audius, Chainlink, and USDC are now leveraging Solana’s speed and ultra-low fees in order to scale to billions of users and devices globally.

About MXC Exchange

Established in April 2018, MXC Exchange is one of the world’s leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services. The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.