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USDC set to move to the Stellar blockchain in Q1 of 2021

 
USDC set to move to the Stellar blockchain in Q1 of 2021
Breaking News / Crypto Market

Quick take

1 minute read

  • USDC, one of the biggest stablecoins in the overall crypto industry, is getting ready to launch on the Stellar blockchain next year. 
  • This comes after an announcement by Center Consortium earlier this week on the 15th of October which indicates that this currency will be a part of the blockchain in the first quarter of 2021.

USDC, one of the biggest stablecoins in the overall crypto industry, is getting ready to launch on the Stellar blockchain next year. This comes after an announcement by Center Consortium earlier this week on the 15th of October which indicates that this currency will be a part of the blockchain in the first quarter of 2021.

Currently, USDC is on the Ethereum blockchain that holds the majority of its overall supply. With the move to Stellar, it will be the third network to bring in the stablecoin in what seems to be a major step forward for the company. 

The chief executive officer of the Stellar development foundation, Denelle Dixon expressed his positive attitude and how this move will help the company in pursuing its own goals.

He further said:

“The addition of USDC to Stellar will allow us to continue to expand our global reach in pursuit of this mission while opening up new avenues for growth and innovation for the developers and businesses building on the network.”

With the addition of the stablecoin to the network, Stellar could see significantly boosted liquidity pools in order to facilitate cross-border payments on its platform. This will help the project strive towards one of its main goals, in being able to create quick transactions across borders for value transfers.



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