USDC stablecoin to be issued on the Stellar blockchain

The USD Coin (USDC) stablecoin, developed by the Centre consortium, will launch on the Stellar blockchain in the first quarter of 2021.

Announcing Circle’s USDC support for Stellar across its suite of payments infrastructure APIs and business account products by Q1 2021 🚀 https://t.co/MrlQB4JTGA

— Circle (@circlepay) October 15, 2020

We value the enhanced interoperability and broad developer ecosystem offered by the Stellar network. We look forward to the moment when adding a robust and stable peg to the US dollar on Stellar will serve as a catalyst for the growth of its ecosystem.

Circle CEO Jeremy Allaire said.

The company’s website states that USDC support will give Stellar users access to a range of services, including payment tools, infrastructure APIs, and various corporate products.

USDC currently operates on the Ethereum and Algorand blockchains. The market capitalization of the stablecoin stands at $2.74 billion.

Data: Messari.

The total market capitalization of the stablecoins segment stands at $21.7 billion. In the sector, Tether’s USDT leads with a market capitalization of $16 billion.

Earlier Coinbase and Circle introduced the second version of USDC, in which gas fees payable in ETH are not required.

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