DeFi lender Moonwell enables USDC lending throughout Ethereum

DeFi lending platform Moonwell has introduced a unique feature called USDC Anywhere, enabling users to lend Circle’s USDC stablecoin across multiple Ethereum networks. This new tool bypasses the need for manual bridging of assets as Moonwell can automatically detect USDC in user wallets on various networks such as Arbitrum, Avalanche, Base, Ethereum, Optimism, and Polygon. By leveraging Circle’s cross-chain protocol, users can seamlessly transfer their USDC throughout the Ethereum ecosystem using their digital assets on Moonwell. Coinbase’s Ethereum Layer 2 Base serves as the liquidity hub for this feature, providing the security of the Ethereum mainnet combined with the speed and affordability of Layer 2 solutions. Additionally, Moonwell’s USDC Anywhere utilizes the interoperability protocol Socket to handle gas fees for users before their funds are transferred to the new network. This integration aims to make USDC lending more accessible and efficient for users on Moonwell’s platform.