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Polymarket will migrate from bridged USDC on Polygon to Circle-issued native USDC, reducing reliance on cross-chain bridges as prediction markets expand.Circle Internet Group has partnered with Polymarket to transition the prediction market’s settlement infrastructure to native USDC, replacing bridged stablecoin collateral used for trading on its platform.
) over the next few months. Native USDC is issued by Circle’s regulated entities and can be redeemed one-for-one for US dollars, offering a “capital-efficient” and scalable alternative without relying on cross-chain bridges.are protocols that transfer tokens between blockchains by locking assets on one network and issuing corresponding representations on another. However, secure cross-chain communication introduces trade-offs in security, trust or flexibility that are not present on a single blockchain. The shift will move Polymarket’s collateral to a stablecoin issued and redeemed directly by Circle, rather than a bridged representation. Shayne Coplan, founder and CEO of Polymarket, said using USDC will support “a consistent, dollar-denominated settlement standard that enhances market integrity and reliability as participation on the platform continues to grow.”Polymarket is an onchain prediction market where users trade contracts tied to the outcomes of real-world events using stablecoins as collateral, including markets on cryptocurrency prices, political outcomes and other events.Gemini launched its in-house prediction market, citing instances in which traders appeared to profit from nonpublic information or by influencing data used to set market prices.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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