USDC officially logs in to the Stellar network, injecting new momentum for innovation in cross-border payments.

The USDC stablecoin is now live on the Stellar network, and users can utilize it in their Stellar accounts through various Wallets. This significant advancement is a result of the collaboration between Stellar Development Foundation (SDF) and the Centre consortium, which was co-founded by Circle and a well-known encryption exchange.

This launch provides convenience for businesses and developers, allowing them to easily access Stellar USDC through Circle's account and API services. Business users can also associate their bank accounts with multiple functionalities of Stellar USDC, including minting, exchanging, storing, sending, and receiving.

Circle executives stated that the choice of the Stellar network is to promote the development of stablecoins within that ecosystem. They emphasized Stellar's leading position in reforming international payments and nurturing new financial applications, believing that the addition of USDC will accelerate these innovations.

SDF leaders also pointed out that Stellar's design concept in the field of cross-border payments and tokenization aligns with Circle's vision for USDC. This conceptual alignment lays the foundation for cooperation between the two parties.

It is worth noting that the Stellar Foundation has made significant progress in the development of its network recently. At the beginning of this year, the Ukrainian government chose SDF as a development partner for its central bank digital currency ( CBDC ) project, a decision that highlights the potential and recognition of Stellar technology in the digital currency space.

Current market data shows that XLM and USDC rank 11th and 12th respectively in the cryptocurrency market capitalization rankings. This ranking reflects the significant positions of these two crypto assets in the market.