Solana or Ethereum USDC, which one will users of Maps.Me and Circle tie up on USDC offering, choose
Solana Labs, the people behind the Solana token, has got a boost as Circle and Maps.ME have announced a partnership to offer USDC on the Maps.ME integrated digital wallet. USDC is integrated into several chains and was integrated into Solana at the beginning of this year.
Maps.ME is the worlds leading offline maps system and this partnership will bring stablecoins to the users of this app as they can make instant payments to merchants and others using a linked debit or credit card.
Maps.ME now has its own digital wallet in which the users can store or transact in Solana USDC and USDC in other chains as well. The company said that the users would get cashback on Booking.com and other offers as well.
“We’re very proud to be a part of the first effort to bring stablecoins to a massive audience on Maps.me,” Circle co-founder and CEO Jeremy Allaire said. “Our two companies share a commitment to transforming money into an internet experience that allows users to send, share, pay and invest as simply and freely as email, text messaging, or social media.”
The Maps.ME application has been downloaded over 140 million times over the last 9 years and it is expected that users across 35 countries would be able to use its digital wallet to make payment in association with Circle which has been pushing for crypto and stablecoin payments for over the past couple of years. It has also recently raised $440 million to boost USDC payments in Solana and other chains.
For Solana, this is likely to be a big win and a win that places it in direct competition with Ethereum which is likely to be the key aspect for the blockchain world in the coming years. Solana Labs had raised $314 million from various investors recently to fund its global expansion and partnerships and it is tie-ups like these that are likely to boost its user base as it positions itself as a viable alternative to ethereum in the long run.
This, along with the fact that stablecoins have a better chance of going mainstream, than bitcoin or any of the other cryptos, is likely to help Solana and ethereum as well. The volatility in bitcoin and other such cryptos is likely to make them unusable as a mode of payment and hence the stablecoins are expected to fill this gap in the long run, assuming that the regulators and other authorities in different countries allow this field to grow and mature.
