Circle has announced that the USDC dollar-linked stablecoine will be launched at Stellar in the first quarter of 2021.
With USDC support, Stellar users will have access to a wide range of enterprise products, payment tools and infrastructure APIs. Denelle Dixon, general manager and chief executive officer of the Stellar Development Foundation, said the addition of USDC to Stellar will provide new opportunities for both developers and overall innovation development, as well as help expand Stellar's ecosystem internationally.
Previously, USDC was only available on the Etherium, and last month, Stabilcoin was launched at the Algorand Block Cellar so users could move their funds faster and cheaper. According to CoinMarketCap, today the market capitalization of Stellar cryptovoltaic (XLM) is more than $1.5 billion, while ETH capitalization is about $1.5 billion.
However, the advantage of the Stellar blockbuster is that compared to the ETH, it is not under tremendous strain due to increased user activity in the decentralized finance sector (DeFi). Therefore, Stellar will allow to better "unlock" the payment potential of the USDC stabilitycoin.
Earlier Circle and Coinbase presented updates for USDC, allowing services working with this stable cryptographic currency to pay commissions for user transactions independently.