Native Assets vs Bridge Assets: Unveiling the Blockchain Support Status of Mainstream Stablecoins

Recently, some users unexpectedly discovered that USDT and USDC on the FTM network are actually issued by Multichain, which has sparked widespread attention. In the field of Crypto Assets, asset security is the primary consideration. Therefore, understanding the Blockchain networks that various Crypto Assets are on and their officially supported cross-chain bridges has become particularly important. This article will explore how to determine whether stablecoins are official native assets and how to identify the cross-chain bridge support behind them.

Regarding USDC, this stablecoin is a native asset on 8 blockchain networks, including Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. USDC on other networks is a bridged asset. It is worth noting that although USDC on Polygon has received official support from Circle, allowing for direct deposits and withdrawals, it is still bridged by Polygon rather than natively issued. However, Circle's official support indicates a certain degree of recognition of its security.

The official website of USDT lists all the natively supported Blockchain networks. Among them, "Omni" is the original platform for USDT issuance and is regarded as the pioneer of BRC20.

For blockchain networks with non-native assets, we can check their cross-chain bridge support through data platforms like DeFiLlama. For example, by looking at the support of USDC across different chains, we can understand which bridges are backing USDC on various networks. If information cannot be found on these platforms, further inquiries can be made using search engines or blockchain explorers. For instance, FTMScan points out that USDC on the FTM network is supported by Multichain.

Interestingly, the stablecoins on the mainstream Layer 2 (L2) networks are all non-native. However, due to the specific technologies that Layer 2 networks are based on, bridging assets are generally more secure compared to Layer 1 (L1) networks. Users can assess their risks through relevant tools. This also explains why some users express dissatisfaction with the development progress of certain Layer 2 network teams.

In general, to ensure asset security, it is recommended to hold native assets of mainstream Blockchain networks as much as possible. Otherwise, you may face the risk of "not your private key, not your coin. But your coin is issued by a third party!"