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The USDC stablecoin was launched on the Stellar blockchain. Transactions on this network will be cheaper and faster than on the Ethereum blockchain

Circle, which is responsible for the development of USDC, has put a lot of effort into creating a new cryptocurrency. A financial technology company is usually spoken of in a positive way.

Therefore, it is not surprising that developers from the Stellar Development Foundation (SDF) have decided to take the new stablecoin USDC under their wing, which has become cramped on Ethereum.

The SDF blog states that the stablecoin will be available in five wallets integrated into the Stellar blockchain as well as a decentralized exchange. USDC will trade six stablecoin pairs among Stellar's 9,000 digital assets.

Large-scale payments can be made through the network, which may attract many developers. It will be possible to create programmable payments, marketplaces, receive additional income using their APIs.

As a reminder, USDC's transition to Stellar was announced in October 2020. This was necessary to speed up and reduce the cost of transactions in light of the addition of USDC to the Visa payment network with more than 70 million merchants.