Circle and the Stellar Development Foundation (SDF) have announced that USDC is live on the Stellar network.
Following the launch, Stellar USDC will become available on Stellar’s decentralised exchange, accessible to any Stellar account through integrated wallets.
Stellar USDC pairs the 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 blockchain.
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation said: “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.”
Stellar ecosystem companies Stably, FinClusive and JST are providing Stellar-native integrations to support liquidity and on/off ramp services for Stellar USDC. Additionally, Wyre and six other Stellar-native platforms are already in the process of integrating USDC into their products and payment operations.
Jeremy Allaire, Chairman and CEO of Circle, stated: “Stellar is helping transform international payments with leading edge technology and a fast-growing ecosystem of businesses and developers creating a new generation of financial applications. Having a trusted and transparent dollar stablecoin, like USDC, in market and available across Circle’s suite of API services for payments and treasury operations will help accelerate the pace and scale of these innovations.”
David Puth, CEO of Centre Consortium, also commented on the news: “We are very pleased to add Stellar to the Centre network. The partnership of Stellar and Centre will further enhance the growth of USDC while simultaneously strengthening the Stellar ecosystem.”