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[THE BLOCK] Stellar blockchain will support USDC stablecoin starting next year

The Block

USDC, the stablecoin developed by Centre, will launch on the Stellar blockchain in the first quarter of 2021, according to the firm.

Today, USDC is supported by Ethereum and Algorand, the latter, in September, became the second blockchain to support the stablecoin. 

“We value the increased interoperability and wide range of developers that the Stellar network brings to the table, and look forward to seeing how adding a strong and stable USD anchor to Stellar grows its ecosystem,”  Circle CEO Jeremey Allaire said in a statement. Circle and Coinbase are the two firms behind Centre.

There are more than 2.8 billion USDC in circulation, according to The Block’s Data Dashboard, making it the second-largest stablecoin behind Tether.

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© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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