Circle and the not-for-profit Stellar Development Foundation (SDF) have announced the launch of the USDC stablecoin Center consortium on the Stellar network.
We and @circlepay are excited to announce that Stellar USDC is now live and immediately available on Stellar’s decentralized exchange, accessible to any Stellar account through integrated wallets, and tradable across Stellar’s ecosystem! https://t.co/jeARyW3Hhv
— Stellar (@StellarOrg) February 2, 2021
According to the press release, after the launch of Stellar, USDC became available:
- on the decentralized exchange of the network;
- any Stellar account through six integrated wallets;
- for trading in an ecosystem of 9,000 assets.
Also, companies and developers can access Stellar USDC through an account with Circle and its API services. This enables you to “connect bank accounts, issue, redeem, store, send and receive Stellar USDC”.
Companies from the network’s ecosystem – Stable, FinClusive and JST – already provide liquidity support for stablecoin. Payment service Wyre and six other platforms supporting Stellar are in the process of integrating USDC.
SDF and Center, co-founded by Circle and Coinbase, announced Stellar as the official stablecoin network in October 2020.
“Companies and developers will benefit from Circle’s scale and liquidity to deliver the products and use cases for which Stellar is designed, especially cross-border payments and tokenization,” said SDF CEO Denelle Dixon.
Initially released on the Ethereum blockchain, the stablecoin is also available on the Algorand and Solana networks.
In recent months, the USDC issue has several times exceeded the growth rate of the supply of the stablecoin market leader by capitalization USDT from Tether.
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