USDC is being added to its third blockchain: Stellar.
Announced Thursday during the Stellar Development Foundation’s quarterly review call, the addition of the dollar-backed stablecoin seeks to bolster Stellar’s standing as a cross-border payments network.
“We are focused on creating equitable access to the financial system by building a global network that delivers services to users regardless of their geography,” Stellar Development Foundation CEO Denelle Dixon said in a statement, adding:
“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.”
According to CENTRE – the USDC consortium jointly led by Circle and Coinbase – there are more than 1.8 billion USDC in circulation. Stellar, which is primarily used by financial institutions for cross-border transactions, has 4.6 million accounts.
Stellar will be