PDAX Now Supports Native USDC in Polygon

PDAX announces that they will be supporting the use of Native USDC issued by Circle on the Polygon PoS network, replacing Bridged USDC (USDC.e).

Circle announced on October 10, 2023, that the blockchain company will only be utilizing Native USDC on Polygon PoS moving forward to replace Bridged USDC (USDC.e). This was started on November 10, 2023.

What happens to USDC in PDAX?

PDAX users with USDC assets in the Polygon network will be able to withdraw their USDC as Native USDC. USDC balances in Polygon have been automatically converted to Native USDC in PDAX. All deposits of Bridged USDC (USDC.e) to the PDAX user's wallet will no longer be credited to their account moving forward.
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What distinguishes Native USDC from Bridged USDC?

​Circle introduces USDC natively to new blockchain networks for developers to build on a stable foundation they can trust. Native USDC is officially issued by Circle and is always redeemable 1:1 for US dollars.

For Polygon PoS, a “bridged” form of USDC known as USDC.e also exists, which is bridged from Ethereum. Bridged USDC (USDC.e) is not issued by Circle.

​Bridged USDC from Ethereum

Token Symbol: USDC.e
Token Address: 0x2791bca1f2de4661ed88a30c99a7a9449aa84174

Native USDC from Circle

Token Symbol: USDC
Token Address: 0x3c499c542cef5e3811e1192ce70d8cc03d5c3359

For more information about this migration, kindly visit the official announcement from PDAX.