Stablecoin USDC has launched on the Stellar network

USD Coin (USDC) has launched on the Stellar blockchain. At launch, USDC is immediately available on Stellar’s decentralized exchange, accessible to any Stellar account through integrated wallets, and tradeable across Stellar’s ecosystem of more than 9,000 assets including stablecoins like NGNT, BRLT, ARST, EURT, TZS and ZAR, according to the press release on Feb 2.

Stellar USDC pairs the world’s leading digital dollar stablecoin, which has seen over 1,000% year-over-year growth and now has nearly $6B USDC in circulation, with the Stellar network, an established and proven blockchain, which has processed more than 1.5 billion total operations and last year saw a 104% YoY growth in total payments on the network.

“We want USDC to be as broadly adopted as possible,” Circle chief executive and founder Jeremy Allaire said, speaking over the phone ahead of the launch. “Stellar as a blockchain is designed for payments.”

 “This integration is going to be a powerhouse for growth in the Stellar ecosystem and a catalyst towards achieving our mission of creating equitable access to the global financial system. It presents significant business opportunities for both new and existing companies to build on the respective strengths of USDC and Stellar. 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 and Executive Director of the Stellar Development Foundation said.

The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar and focus on growth in Latin America and Africa.

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