“We understand the responsibility we have for the Ethereum ecosystem and businesses, developers and end users that depend on USDC, and we intend to do the right thing,” read the announcement.
The firm’s stablecoin is currently the second-largest , commanding a market capitalization of $54.2 billion.
Circle’s announcement comes amid growing speculation that the merge event will also lead to another Ethereum fork that would keep the mining-intensive PoW consensus mechanism alive and well.
Following the merge, miners will be swapped for so-called validators in which users stake 32 Ethereum to validate transactions on the network.
BitMEX has also just launched a futures contract that would allow speculators to leverage trade ETHPOW.
As for Circle, the firm is staying the course.
“While we don’t speculate on the possibility of forks post Ethereum Mainnet merge, USDC as an Ethereum asset can only exist as a single valid ‘version,’ and as stated previously, our sole plan is to fully support the upgraded Ethereum PoS chain,” Circle’s announcement read.
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Source: Decrypt.co[mailpoet_form id="3"]
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