Stellar Puts $5M in Wyre to Support Ecosystem
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The Stellar Development Foundation (SDF) has invested $5 million in Wyre, a blockchain payments company. Thus, the foundation wants to integrate Wyre's APIs with the Stellar network, enabling Stellar USDC on/off ramps in USD, GBP, CAD, AUS, and EUR.

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Denelle Dixon, CEO and Executive Director of SDF, notes Wyre's API with its ecosystem will expand existing payment corridors.

"Simplifying expansion and development on Stellar moves us closer to our goal of creating equitable access to the global financial system," Dixon added.

As part of the partnership, Wyre will tie ecosystem apps with Stellar's USDC so that developers will not have to create integrations from scratch. Wyre’s savings will also incentivize deposits and lending of Stellar assets to simplify apps to accept funds and allow users to earn interest.

Earlier in January, Ukraine signed a Memorandum of Understanding with the SDF to develop a strategy for the country's digital currency. The Ministry of Digital Transformation of Ukraine will collaborate with Stellar to "enhance Ukraine's status as an innovative digital country."

German Bank Issues Euro-pegged Stablecoin on Stellar Blockchain

Deputy Minister of Digital Transformation for IT Development, Oleksandr Bornyakov, said the Ministry is working on creating the legal environment for the development of cryptocurrencies in Ukraine.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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