Customers can transact with USDC on Stellar across all Circle products
Today, Circle is announcing comprehensive support for USDC on Stellar across all Circle products. This is the next step to making USDC a global standard across multiple blockchains and unlocking the next generation of internet commerce globally.
Stellar is a highly innovative, reputable and established public blockchain with breakthrough scalability, speed and cost efficiency and a strong focus on international payments and tokenization. Designed for developers, Stellar supports block production and settlement finality in 5 seconds and extremely low transaction fees of a fraction of a cent. It was built with the goal of creating equitable access to the financial system and delivers on that vision today with over 4.8 million accounts and over 1.5 billion transactions processed since its launch in 2015.
USDC on Stellar will be available via the Circle Account and APIs, where customers can convert, transfer, custody and swap funds across blockchains. USDC on Stellar will function just like USDC on other blockchains: with one single integration, customers can:
The Circle Account and API services serve as a cross-chain facility, enabling interoperability across these blockchains (and more coming soon!).
The Stellar network, which is used by financial institutions around the world to provide borderless access to financial infrastructure, was built with a mission of financial inclusion. Large enterprise companies and single-dev startups alike have chosen Stellar to move money and access new markets. For instance, an American company can pay an invoice in Mexico nearly instantly, settling in digital dollars or cards, ACH or wires. We are excited about the power of Stellar and the possibilities for this implementation of USDC as well as supporting Circle’s own mission of raising global internet prosperity through this partnership.
USDC has seen 1000% year-over-year growth, with nearly $1.5B USDC added in 2021 alone and nearly $6B USDC in circulation as of January 2021. With a Circle Account, customers around the world can connect bank accounts and mint, redeem, store, send and receive USDC on Stellar.
These services are now available to all Stellar developers. Get started instantly in Circle’s fully functional developer sandbox or contact our team to start building today.
**After Customer generates one deposit address for converting across blockchains, Circle will charge a fee of $100 for each additional deposit address.
* Service offered through Circle International Bermuda Limited. Offering subject to business approval, geographical availability, and regulatory authorization, and there is no guarantee that the product will become available in a specific timeframe, or to a specific customer group or geography. Service offered through Circle International Bermuda Limited. It is anticipated that Circle International Bermuda Limited will enter into lending arrangements with one or more institutional borrowers, including Genesis Global Capital, LLC. You should carefully conduct your own investigations and analyses in connection with any participation in this product, including its objectives, risk factors, fees, and expenses and the information set forth in these materials. All prospective participants in the products described herein are advised to consult with their legal, accounting and tax advisers regarding any potential participation. Rates are purely indicative and are subject to change pending availability, approval and market conditions. Additional information is available upon request.