Circle, the company behind the USD Coin (USDC), has revealed plans to broaden the reach of its stablecoin.

Over the span of September to October this year, USDC is set to find its way onto six new blockchains.

This move will significantly bolster the number of chains that support USDC, bringing the total count to fifteen.

Furthermore, the USDC Center Consortium is also undergoing changes.

It's reported that Circle will be taking over critical responsibilities for USDC, such as the management of smart contract keys, issuance, operations, and compliance.

This significant transition is linked to the evolving regulatory environment for stablecoins worldwide, including the United States.

Circle's CEO Jeremy Allaire highlighted this point, expressing that the restructuring is prompted by the growing regulatory clarity.

Governments, Stablecoins, and Circle

In a recent move showing its global intentions, Circle expressed interest in introducing a stablecoin in Japan.

This follows the country's establishment of stablecoin regulations, signaling Circle's eagerness to embrace new market opportunities.

Meanwhile, in the UK, regulatory approval in the form of the Markets Act 2023 has labeled stablecoins as regulated financial activities.

This adds a layer of oversight to stablecoin operations in the country.

Coinlive previously reported on how Coinbase has also entered the picture.

The platform has invested in Circle, solidifying their partnership and deepening their commercial collaboration.