Polymarket aims to replace a cross-chain representation with a stablecoin issued directly by Circle.
Circle’s native USDC comes from Circle’s regulated entities. It can be redeemed at a one-for-one rate for US dollars.
The announcement described native USDC as “capital-efficient” and positioned for scale. This approach also avoids making cross-chain bridge systems a core requirement for settlement.
Polymarket’s shift places its collateral in a stablecoin that Circle issues and redeems directly. The result keeps settlement tied to Circle’s issuance and redemption processes rather than to the mechanics of token locking and mirrored supply across chains.
Shayne Coplan, Polymarket’s founder and chief executive, said the use of USDC will support “a consistent, dollar-denominated settlement standard that enhances market integrity and reliability as participation on the platform continues to grow”.
Polymarket recently signed a multi-year deal with Major League Soccer (MLS) to serve as the league’s exclusive prediction market partner.
