The latest Smart Deposit feature by Eco allows users to deposit funds and reduces the processing time to seconds.
Stablecoin network Eco has launched Smart Deposits for Circle Gateway, a service by USDC issuer Circle which allows for a unified USDC balance across multiple blockchains.
Circle Gateway currently requires users to move their funds onto the right blockchain before finalising the transaction, and Eco’s Smart Deposits aim to handle this process in the background, reducing the time required.
According to Eco, the process is sped up by the use of Eco Routes and Programmable Addresses. Users first deposit their funds to an assigned deposit address; once received, funds from the network’s USDC inventory are then deposited into Circle Gateway. The user’s assets move through Eco’s smart contracts without the network taking custody.
Additionally, developers working with Circle Gateway can also make use of Eco’s Smart Deposits to improve the experience for their users without assuming any custody or infrastructure risk.
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