USDC Stablecoin Goes Live on the Stellar Blockchain

Key Takeaways

  • USDC, the second-largest stablecoin on the market, has been launched on the Stellar blockchain.
  • The USDC stablecoin can be used in Stellar’s ecosystem of dApps and is tradable with over 9,000 digital assets.
  • Businesses and developers can access Stellar USDC via integration with the Circle’s API Services. 

One of the leading dollar-pegged stablecoins, USD Coin (USDC), has gone live on the Stellar blockchain.

USDC Added to Stellar Ecosystem

Developers building on the Stellar blockchain can now make use of the dollar-pegged USDC stablecoin.

With the announcement, Stellar is the fourth blockchain to support the stablecoin, following Ethereum, Algorand, and Solana.

Stellar allows cross-border transactions with settlement times within five seconds. As such, it will facilitate fast USDC transactions. It will also allow users to make USDC transactions with negligible fees, whereas Ethereum’s gas fees can be quite expensive.

USDC is the second-largest stablecoin after Tether (USDT). It was launched in 2018 by CENTRE, the result of a partnership between the crypto companies Circle and Coinbase. Currently, there are $6 billion of USDC tokens in circulation.

New Uses for USDC

The integration brings instant value to the Stellar ecosystem and will create new opportunities for USDC

“Businesses and developers will benefit from Circle’s scale and liquidity to deliver on the kinds of products and use cases the Stellar was designed for, especially cross-border payments and tokenization,” Denelle Dixon, CEO of Stellar Development Foundation, stated in a media release.

The stablecoin will be available across all projects within Stellar’s ecosystem. It will be tradable with over 9,000 digital assets, according to the Stellar Development Foundation.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article