USDC log in to the Stellar network to support ecosystem development

USDC stablecoin is now live on the Stellar network.

Recently, the stablecoin USDC has officially been enabled on the Stellar network. Users can now use USDC in any Stellar account through multiple major wallets. This move will allow USDC to trade within an ecosystem that has thousands of assets.

In October last year, the Stellar Development Foundation partnered with the Centre consortium behind USDC, announcing that Stellar would become one of the official supporting chains for USDC. This laid the foundation for USDC's implementation on the Stellar network.

With the accounts and API services provided by Circle, businesses and developers can easily access Stellar version of USDC. Corporate users can link their bank accounts to Stellar USDC to achieve functions such as minting, exchanging, storing, and transferring.

Circle executives stated that the choice of the Stellar network is to promote the expansion of stablecoins in that ecosystem. Stellar is helping to transform the international payments space through advanced technology and a rapidly growing ecosystem. The inclusion of trusted USD stablecoins like USDC will further facilitate the development of innovative applications.

The head of the Stellar Development Foundation also pointed out that Stellar's design philosophy in cross-border payments and tokenization aligns closely with the vision of USDC.

Currently, XLM and USDC rank 11th and 12th in market capitalization, respectively. In addition, the Stellar Development Foundation has recently made progress in the central bank digital currency field, being selected to participate in the development of Ukraine's CBDC project.