An open-source decentralized protocol Stellar has announced it will add support for the USD Coin (USDC) stablecoin.
According to the Centre Consortium, co-founded by Circle and Coinbase, the stablecoin will be available on the Stellar ecosystem in the first quarter of 2021.
If you are looking for a crypto trading platform to trade your assets, visit Gozo.pro, a safe and reliable exchange.
The consortium claims the decision to integrate USDC into the Stellar's blockchain comes as both "have reported steady and significant growth."
USD Coin earlier experienced over 500% growth over the past six months has grown to over 2.8 billion USDC in circulation. The Stellar network already has over 4.6 million accounts, an average ledger close time of 5 seconds. In August, the project announced the so-called USDC 2.0 update with additional layer of security infrastructure to the USDC smart contract.
The upgrade includes the so-called "gasless sends" feature, which allows wallet developers to delegate the payment of the gas fees on the Ethereum blockchain network to another address.
The Stellar Development Foundation CEO Denelle Dixon says the addition of USDC will allow Stellar to continue to expand its 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."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.