• IOG did not negotiate to integrate USDC on Cardano.
• Charles Hoskison predicts a repeat of history about stablecoin integration on Cardano.
• The Cardano Foundation declined a $3 million USDC integration deal in 2021.

Cardano founder Charles Hoskinson has clarified that Input-Output Global (IOG), the company that develops and maintains the Cardano blockchain, did not negotiate with Circle on USDC integration on Cardano. In a recent post on X, Hoskinson noted that the company never had an opinion on the stablecoin launching on the blockchain network.

However, the Cardano founder recalled past events, predicting that history will repeat itself regarding USDC integration. According to Hoskinson, John MacPherson, formerly of the Cardano Foundation, discussed USDC implementation in 2021. At that time, the Foundation rejected the $3 million integration deal but reopened negotiations a few years later.

Related: Hoskinson Responds to Criticism, Teases RLUSD Integration on Cardano

Cardano’s Readiness for USDC

Stake pool operator Linda, from Malu Pool, explained the USDC situation, highlighting Cardano’s development from 2021 to early 2022. She noted that the blockchain added native tokens with the Mary hard fork in 2021, allowing NFTs and tokens on Cardano for the first time.

Then, the blockchain executed the Alonzo hardfork in September 2021, adding smart contracts. DeFi protocols began emerging on Cardano in late 2021 and early 2022. Linda noted Cardano was in its early stages in 2021 and could not implement USDC. However, she believes the blockchain is now mature enough to handle the stablecoin.

Meanwhile, many Cardano (ADA) enthusiasts believe the Cardano Foundation’s failure to implement stablecoins raises doubts about the blockchain’s potential, limiting its ability to attract investment. Some enthusiasts have voiced their concerns, asking that the Foundation work with prominent stablecoin issuers to enhance the blockchain’s growth.