The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain.

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Fast facts

  • A cross-chain bridge allows for crypto assets of one blockchain to be converted for use on another ecosystem.
  • USDC’s inclusion to Cardano further strengthens its decentralized finance (DeFi) ecosystem, which has collected US$119 million in total value locked (TVL) since the blockchain upgraded for smart contracts in September’s Alonzo hard fork.
  • Cardano users are hoping to get their own native stablecoin in the form of yet-to-be-launched algorithmic coin Djed.
  • Iagon plans to add support for additional ERC-20 tokens in the future.
  • The Cardano network is setting up for the scalability-focused Vasil hard fork public testnet scheduled for early June. 
  • Cardano’s native token, ADA, gained up to 5% overnight in Asia to trade at US$0.4834, while Ethereum gained up to 2% overnight to trade at US$1,805 at press time. 

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