Circle, a prominent stablecoin issuer, has made a strategic investment in Sei Network, a layer-1 blockchain, with the goal of broadening the applications of its USD Coin (USDC).
Sei Network claims to be the fastest blockchain globally, offering swift transaction settlements and enhanced cross-border payment access.
Circle’s venture arm, Circle Ventures, invested an undisclosed amount to integrate USDC into Sei, facilitating quick, cost-efficient transactions globally.
Sei, designed to address the cryptocurrency industry’s need for efficiency and scalability, boasts a rapid 390ms time to finality, positioning itself as an ideal infrastructure for stablecoin applications.
Sei, founded by Jayendra Jog and Jeff Feng, has positioned itself as a solution to the intermediary challenges faced by centralized platforms. The integration with USDC aligns with Sei’s mission to offer users a seamless and scalable blockchain experience.
This strategic investment aims to accelerate the development of Sei’s infrastructure, offering users and developers a platform for high-speed and cost-efficient transactions. Sei, recognized as the fastest blockchain globally, with a time to finality of 390ms, aligns with Circle’s commitment to open access and programmable commerce.