Wednesday, May 5, 2021

USD Coin (USDC) Goes Live On Stellar Network

As a report has it, USD Coin (USDC), the world’s second-largest stablecoin, is now live on Stellar’s decentralized exchange (DEX).

The new development was jointly published by Circle, the issuer of USDC, and the Stellar Development Foundation.

According to Stellar Foundation in a tweet, the stablecoin is now accessible to any Stellar account via integrated wallets and can be traded across the Stellar ecosystem.

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Stellar Foundation tweeted, “We and Circle 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!”

As an earlier report has it, the new version of the USD-pegged digital currency was initially announced in mid-October 2020.

According to the CEO of Circle, Jeremy Allaire, Stellar is creating a new generation of financial applications that will have a great impact on the world of finance.

Jeremy Allaire noted:

“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.”

Read Also: Benefits Users Would Derive As Stellar Gets Ready To Welcome USD Coin (USDC)

Going by the data provided by CoinMarketCap, Stellar Lumens (XLM) and USD Coin (USDC) are both currently occupying 11th and 12th positions respectively.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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