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The Stellar network officially supports USDC, enabling trading of stablecoins with 9,000 types of assets.
The Stellar network now officially supports the USDC stablecoin, a significant advancement that provides users with more convenience. Users can use USDC in Stellar accounts through multiple mainstream Wallets, including Lobstr, Solar, and others. In addition, USDC can be traded with over 9000 assets within the Stellar ecosystem, offering users a richer selection.
This collaboration began in October 2020, when Stellar was recognized as one of the official support chains for USDC. This decision was made jointly by SDF and the Centre consortium, aiming to expand the use of USDC.
With the account and API services provided by Circle, businesses and developers can easily access Stellar version USDC. Through the Circle account, businesses can link their bank accounts to various functions of Stellar USDC, including minting, exchanging, and storing.
Circle executives stated that the choice of Stellar as a partner is based on its innovative capabilities in the field of international payments and its rapidly developing ecosystem. They believe that introducing a reliable stablecoin like USDC into the Stellar network will help accelerate the pace of financial innovation.
Stellar has also expressed recognition of this collaboration. Its负责人 pointed out that Stellar's design philosophy in cross-border payments and tokenization is highly aligned with the development direction of USDC.
It is worth mentioning that the Stellar Foundation has recently made significant progress in the central bank digital currency (CBDC) space. Earlier this year, the Ukrainian government chose to collaborate with SDF to develop its CBDC project, which demonstrates Stellar's influence in the digital currency space is continuously expanding.
As of the time of writing, XLM and USDC have shown relatively stable market performance, ranking 11th and 12th respectively in the cryptocurrency market capitalization leaderboard. This collaboration will undoubtedly inject new momentum into the future development of both.