So the major announcement has been revealed: USDC will be issued on Stellar blockchain.
Why is this great?
- Stablecoins are part of Stellar protocol by default
- If you choose to send or receive USDC on Stellar, you won’t have to pay RIDICULOUS GAS FEES
- Stellar is fast & cheap for facilitating transactions even when ETH 2.0 finally comes around
- USDC will bring liquidity on Stellar Decentralized Exchange
- Stellar will help Circle to expand the use case of USDC to remittances and B2B transactions
- Earning interest on USDC by transferring it over to DeFi or CeFi platforms will be much easier and faster for a fraction of a penny
What is USDC?
USDC is fully backed by reserved assets which are redeemable on a 1:1 basis for US dollars. It is governed by Centre, a membership-based consortium that sets technical, policy and financial standards for stablecoins.
As of October 7, 2020, there is 2.7 billion of USDC in circulation.
What is Stellar?
Stellar is an open-source network for currencies and payments. Stellar makes it possible to create, send and trade digital representations of all forms of money—dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network.
When will USDC be issued on Stellar?
USDC will be live in Q1 of 2021 on Stellar chain.
Read the full announcement here.
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