ADA Surge Nearly 8% After the Launch of Cardano-Ethereum Bridge for USDC Transfers

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

Source: Iagon

ADAUS up +7.76%, ETHUSD up +4.59%

A cross-chain bridge enables users to convert crypto assets of one blockchain to be used for another ecosystem.

USDC’s inclusion of Cardano solidifies its decentralized finance (DeFi) ecosystem, which has gathered $119 million in total value locked (TVL) since its blockchain upgrade in September.

Cardano users are expecting to get their own native stablecoin in the form of a soon-to-be-unveiled algorithmic coin Djed. Iagon is set to add support for additional ERC-20 tokens in the future.

The Cardano ecosystem is preparing for the scalability-targeted Vasil hard fork public testnet set for early June.