Stellar blockchain will support USDC stablecoin starting next year
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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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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