Stellar Development Foundation began supporting USDC as a result of its agreement with Circle. One of the largest stablecoins, USDC can now be used within the Stellar ecosystem.
According to the published press release, it will be possible to use USDC on the Stellar network. Transactions can be made on Stellar’s decentralized exchange and different wallets such as Lobstr, Solar, StellarPort, StellarX, StellarTerm.
USDC can be purchased with a bank account
Organizations and businesses around the world will be able to make payments using this Stellar-based service. Organizations that provide Circle Account integration will be able to connect their bank accounts to the network and make USDC transfers.
Stably, FinClusive, JST, which are in the Stellar ecosystem, will contribute to USDC’s liquidity. It was learned that USDC will be integrated into a total of seven different Stellar platforms, including Wyre.
Growth opportunity for the Stellar ecosystem
Stellar; It will provide a more useful payment infrastructure thanks to the USDC integration. It is stated that every business, entrepreneur and individual user using Stellar technology can benefit from this service. Denelle Dixon, CEO of Stellar Development Foundation, commented on the developments:
“The mission of the Stellar ecosystem; to provide everyone with an equal opportunity for financial participation. The USDC integration will assist on the road to this goal. Businesses and developers that transfer money internationally with the Stellar infrastructure will now be able to benefit from Circle’s scalability and liquidity. ”
Developed in partnership with Circle and Coinbase, USDC has grown tenfold in one year. While the value of USDCs in circulation has increased to 6 billion dollars; The total value of transactions made on the USDC network reached $ 300 billion. Aiming to provide a global financial infrastructure and hosting more than 4.8 million accounts, Stellar is seen as the eleventh largest cryptocurrency.