Circle’s stock rallied 10% following news that its USDC stablecoin had expanded to Sam Altman’s World Chain, the blockchain ecosystem linked to Worldcoin (WLD), which rebranded as World last October.

USDC’s integration into the World Chain ecosystem means the stablecoin is now natively minted on the blockchain, replacing previously bridged versions held by about 2 million users.

It enables direct conversion between fiat currency and USDC via Circle Mint, in addition to seamless cross-chain swaps thanks to Circle’s cross-chain transfer protocol, known as CCTP V2.

“This isn’t your typical stablecoin integration because World Chain isn’t your typical blockchain,” Circle said in a blog post.

This story is an excerpt from the Unchained Daily newsletter.

Since its launch in 2023, World has faced a number of issues, including regulatory pushback over its biometric data collection process, which requires users to submit iris scans for identity verification. 

Its native token, WLD, also had limited utility at launch, lacking features such as staking rewards, governance rights, and significant DeFi integration. 

WLD is currently trading 90% below its all time high of $11.82.