U.S. Dollar Coin (USDC), the $6 billion stablecoin produced by Circle Internet Financial on the Ethereum blockchain and backed by cryptocurrency exchange Coinbase, has launched on the Stellar blockchain.
USDC, developed on the Ethereum blockchain, has seen its market capitalization increase over ten-fold over the last 12 months and now has almost $6 billion USDC in circulation.Stablecoins, usually pegged to fiat currencies or real-world assets, are cryptocurrencies designed to ease global payments without the volatility that’s often associated with the
likes of bitcoin.
USDC’s Stellar launch comes after credit card giant Visa V revealed in December it would connect its global payments network of 60 million merchants to USDC. Since then, the number of USDC tokens in circulation has doubled.
“We want USDC to be as adopted as possible,” Circle chief executive and founder Jeremy Allaire said, speaking over the phone ahead of the launch. “Stellar as a blockchain is designed for payments.”
The Stellar network has processed more than 1.5 billion total operations and last year saw a 104% year-on-year growth in total payments on the network.
What’s Stellar Lumen
Lumen (XLM) is the native cryptocurrency for Stellar, an open source blockchain payment system. The purpose of Stellar is to connect financial institutions via the blockchain and provide cheap transactions in developing markets.
We will work around the clock to provide Crypto news.
Click on the dropdown button to translate.
Translate this page:
You can translate the content of this page by selecting a language in the select box.
All Altcoins Bakkt’s Exchange Bangladesh Crypto Currency News Bitcoin News Bitcoin Wallet Crypto Bills Crypto Currencies And Rappers Crypto Currency Exchange Crypto Currency News Crypto Currency Politics Crypto Price Prediction Crypto Roundups Crypto Staking Crypto Taxes Elon Musk Ethereum Federal Reserve Ira Platform Make Money MeMe Crypto Metaverse Mining’s Rig NFT Nigeria Crypto Currency News Our 1st Round Picks For 2022 PayPal Prophet Muhammad Crypto Currency Reddit News Robinhood Short Articles Stablecoin Staff Picks Vietnam Crypto Currency News