23 April, 2024



Burnt Launches XION With a Strategic Partnership With Circle

06 Oct, 2023

15 Mar, 2024

  • Circle Ventures, a global fintech company, makes a strategic investment with Burnt to launch the public testnet for XION.
  • XION becomes the first L1 blockchain to use USDC as primary transactional currency with a special focus on tangible consumer use cases.
  • Backed by an ecosystem with seventy-five partners, XION offers exceptional functionalities to users using the Web3 technology.

Burnt, a Web3 foundry, has made a public announcement about its new strategic partnership with Circle Ventures, the venture capital arm of Circle – a global fintech company and a provider of USDC. The main aim of this collaboration is to make XION the first layer 1 blockchain to utilize USDC, a fully reserved digital dollar, as the primary transactional currency for enhancing mainstream adoption.

For mainstream adoption, the technical complexities in the web3 landscape should be thwarted and require easy-to-use technology. XION is poised to redesign the digital asset ecosystem by enabling tangible use cases such as private and public communities, membership, loyalty programs, and games. 

The product built on XION will display prices in USDC, thereby banishing one of the key technical barriers. Over 75 partners support the XION ecosystem, giving customers access to essential features and a smooth user experience. Users can purchase assets through CHRGE using their credit cards thanks to global payment service provider Checkout.com. Exodvs, an on-chain membership platform, enables XION-based project communities to function and expand. Through XION’s revolutionary Fee Abstraction module’s pioneering implementation, Osmosis makes it possible to improve user experience.

Burnt Banksy, CEO of Burnt, said that the long-term vision of XION is to empower user-friendly applications harnessing web3. The alliance between Circle and Burnt is monumental in launching the public testnet XION. Wyatt Lonergan, Circle Ventures Principal, said

We are proud to support Burnt in their mission of empowering developers to craft user-friendly experiences that abstract away the complexities typically associated with using Web3. With the beta launch of XION, developers can build purpose-built applications that leverage USDC for widespread adoption.

The support provided by Circle underscores their unwavering effort to provide seamless access to the popular digital asset USDC. Earlier, it made efforts to integrate USDC into Polkadot Mainnet to make it natively accessible without the need for bridges.

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