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Circle, the issuer of USDC, introduces beta version of MPC wallet for Ethereum, Polygon, and Avalanche.

Circle, the issuer of USDC, introduces beta version of MPC wallet for Ethereum, Polygon, and Avalanche.

The stablecoin issuer, Circle, has launched a beta version of a multiparty computation (MPC) wallet service, allowing developers to create customized wallets for their users. This service is aimed at developers of decentralized finance (DeFi) apps, Web3 video games, e-commerce services, and other blockchain applications. The MPC wallets are secured by splitting a user’s private key into multiple shards and distributing them through a decentralized network. Developers can choose different wallet security and control configurations, such as hosting their own MPC nodes or connecting to Circle’s nodes. The new service is part of Circle’s strategy to promote the use of USDC and advance the adoption of digital assets. It is important to note that MPC wallets have faced controversy in the past, with a widely used MPC bridge being hacked. However, Circle’s senior director of product management stated that the new service is built and maintained in-house and does not rely on external vendors. Circle also recently highlighted the increasing demand for euro-based stablecoins and suggested that a yuan stablecoin would be preferable to a Chinese central bank digital currency.

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