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Circle and the Stellar Development Foundation (SDF) have announced that the second largest stablecoin is now available within their network. USD Coin (USDC) is accessible through five integrated wallets and can be traded on their ecosystem, the USDC issuer said.

Stellar has been the USDC’s official chain since October 2020

According to the Announcement, the stablecoin is available in every Stellar (XLM) account through Lobstr, Solar, Stellarport, Stellarx and Stellarterm wallets. In addition, people could trade USDC through an ecosystem with more than 9,000 assets.

In October 2020, the SDF and the Center Consortium – co-founded by Circle and crypto exchange Coinbase – announced Stellar as the official necklace from USDC.

Circle Account and its API services allow businesses and developers alike to access Stellar USDC through a single integration. With a Circle account, businesses can link their bank accounts to Stellar USDC, redeem, store, send and receive.

Jeremy Allaire, Circle’s CEO and Chairman, noted that he chose Stellar to pursue the stablecoin expansion on Stellar:

Stellar is helping transform international payments with advanced technology and a fast-growing ecosystem of companies and developers creating a new generation of financial applications. Having a trusted and transparent stable dollar, such as USDC, in the 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.

Denelle Dixon, CEO and Executive Director of the SDF, pointed out that Stellar’s design for cross-border payments and tokenization is compatible with Circle’s expectations with USD Coin.

Stellar Foundation’s Recent Movements

According to the latest market data from Bitcoin.com, XLM is trading at $ 0.3442, up 1.66% at press time. USDC is also trading hands for $ 0.9992, down 0.17%. Both cryptos are in 11th and 12th place respectively.

The Stellar Development Foundation has witnessed significant movements within its network. The Ministry of Digital Transformation of Ukraine arrived in early January picked the SDF to develop its central bank digital currency project (CBDC).

What do you think of this announcement? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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