Is USDC on Solana an ERC20 token? (2024)

Does USDC work on Solana?

USDC for Solana is now available on mainnet, and Circle will bring comprehensive support for Solana across its suite of platform services and APIs in Q4. Crypto traders and developers can now use USDC, one of the most popular stablecoins, on fast, scalable, and cost-effective rails provided by the Solana blockchain.

Ethereum USDC is built on ERC-20, which is the most widely adopted standard in blockchain applications.

Solana (SOL) ERC20 Token in Binance Smart Chain Mainnet. Token is implemented as ERC20 smart contract with address 0x41848d32f281383f214c69b7b248dc7c2e0a7374 .

USDC is deployed natively on both ETH and SOL, and wrapped versions of USDC from the two chains are not compatible with each other, so it's important to know which version of USDC you start with. Sending native USDC from Ethereum to Solana will result in USDCet.

USDC-SPL is the Solana version of USDC that exists on the Solana blockchain, while native USDC can be sent using the ERC20 network. They mainly differ in the types of platforms that support these versions of USDC, as well as the cost of sending USDC using these networks.

USD Coin is an ERC-20 stablecoin brought to you by Circle and Coinbase.

Which blockchain network hosts USDC? USDC is available on Coinbase with the Ethereum, Solana, and Polygon networks.

What is USD Coin? USDC is a stablecoin launched in partnership with Coinbase and Circle and operates as an ERC-20 token, meaning it runs on the Ethereum blockchain.

Solana program library (SPL) tokens – Solana's version of Ethereum's ERC-20 tokens – are now the first non-Ethereum-compatible crypto asset on Coinbase Wallet. The browser extension and app was previously limited to Ethereum Virtual Machine networks such as Polygon, BNB Chain and Avalanche.

What token standard is Solana?

Moreover, SOL is a so-called SPL token, and in this section, we're going to explore what SPL tokens are. SPL tokens are to Solana what ERC-20, ERC-721, and ERC-1155 tokens are to the Ethereum network. As such, SPL can be seen as the token standard for the Solana blockchain.

Solana (CRYPTO:SOL) is a blockchain platform known for its speed and efficiency. SOL tokens are its native cryptocurrency and are used to pay its transaction fees. Since launching in 2017, Solana has grown to become one of the largest cryptocurrencies in the world.

Over the next month, eligible Coinbase and Coinbase Exchange customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and they'll be able to send and receive USDC on Solana.

1. Can I send USDC from Binance to Phantom wallet? Yes, you can send USDC from Binance to Phantom wallet as now Binance supports deposits and withdrawals of USDC and USDT on Solana network (SPL).

USDC is available on Coinbase with the Ethereum, Solana, and Polygon networks.