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USDC officially logs in to the Stellar network to assist in international payment innovation.
The USDC stablecoin has officially logged in to the Stellar network, and users can use this stablecoin in any Stellar account through multiple Wallets. The Stellar ecosystem has over 9,000 assets, and USDC can be traded freely among them.
In October last year, Stellar was announced as one of the official support chains for USDC. Enterprises and developers can now access Stellar USDC through Circle's account and API services in a one-stop manner. The Circle account allows businesses to link their bank accounts with the minting, exchanging, storing, sending, and receiving functions of Stellar USDC.
Circle executives stated that the choice of Stellar is to promote the expansion of stablecoins on that network. They believe that Stellar is changing the landscape of international payments through advanced technology and a rapidly evolving ecosystem, creating a new generation of financial applications. USDC, as a trusted dollar stablecoin, combined with Circle's API services, will help accelerate the scaling of these innovations.
The head of the Stellar Foundation pointed out that Stellar's design philosophy in cross-border payments and tokenization aligns closely with Circle's expectations for USDC.
According to the latest market data, XLM is currently priced at 0.3442 USD, up 1.66%; USDC is priced at 0.9992 USD, down 0.17%. Both cryptocurrencies rank 11th and 12th in market capitalization, respectively.
It is worth noting that the Stellar Foundation has been active recently. In early January of this year, the Ukrainian Ministry of Digital Transformation selected the foundation to participate in the development of its central bank digital currency (CBDC) project. This series of developments demonstrates the continued expansion of the Stellar network in the digital payment space.