The Stellar ecosystem is full of information about USDC and what different people have to state about it.
Gbubemi Agbeyegbe, Technical Director at Cowrie Exchange, shared his POV on how USDC will make cross-border payments on Stellar a lot more efficient. He stated all thanks to USDC’s liquidity and reputation on the global market. He pointed to how at Cowrie they provide cross border payments in Nigeria. He stated that USDC coming to Stellar will make their payment services a lot more efficient, because USDC is regulated and therefore a trusted stable coin. He pointed to how it has lot of liquidity in global markets.
USDC coming to Stellar means that all the advantages of Stellar, which is a centralized exchange and lightning fast very cheap transactions can now take advantage of USDC and US dollar transactions.
Amit Sharma, CEO FinclusiveCap describes what about USDC makes it prime for adoption in the marketplace as well as its far-reaching impact on Finclusive and the Stellar greater ecosystem. He stated that Finclusive are in particular very, very excited about the incorporation of the USDC in to the Stellar Ecosystem, because it reinforces and grows our capabilities and to financial inclusion. The enhanced stability and liquidity characteristics of USDC globally will enhance our ability to provide transactions cross border for households, individuals, and customers and partner organizations in a stable and highly liquid and growing asset like USDC.
Amit also stated that USDC has grown over 1000% year on year and has nearly 6 billion in circulation and our ability to facilitate transactions in to and out of the emerging markets frontiers with the US with the USDC via the Stellar Rails will only enable it for that many more communities in the organizations that we serve.
Also, DSTOQ is as of now supporting USDC. Both, the android app and the iOS app have been updated; existing users just need to upgrade to enjoy trading with USDC.
An excited Denelle Dixon recently stated, in less than a week, we’ve already seen how USDC has taken off on the Stellar network. She has already reported on how businesses are already using USDC and what this means for use cases on Stellar.
Anyone who looked in to the video, will be able to sense the passion and excitement in Denelle’s face, which is just proof of a very exciting thing that is happening, which she is expressively happy about.
Stay tuned for more
Stellar USDC Based $150 million Liquidity Support to On-Chain Projects
Leveraging on-chain assets to support the ecosystem financially is a great way to showcase the value of Stellar. There are several projects building on Stellar. Thus, creating new pathways for expanding financial inclusion. Stellar are looking to leverage those pathways.
The on-chain assets will help the ecosystem along with the tools that they already have and will continue to add more to the toolbox. To that end, Stellar heard the growing demand from ecosystem partners where debt financing will be able to advance innovative projects, both new and existing, on Stellar.
Denelle Dixon expressed: We’ve just moved $150 million on-chain to support the growth and development of the Stellar network.
These on-chain assets will be deployed in support of our mandate with tools we have already been using and a new tool: tailored financing to help ecosystem companies when they need it most.
Think working capital loans to payment companies as an example. Funds will be based in Stellar USDC.
Having USDC at the ready is powerful. It’s a tool to swiftly remove roadblocks for fast-growing projects, and clear wider pathways to expand financial inclusion.
The financing based in Stellar USDC is great as it permits near-zero transaction costs and takes nearly 5 seconds to finalize a transaction.
It is possible to see how ecosystem companies will be already leveraging USDC on Stellar worldwide. By moving $150 million worth in USDC on-chain makes it possible for SDF to work with a pool of flexible capital can be deployed quickly to help these projects by tailored financing when they need it the most.
Denelle reinstated on how they are looking to further reinforce Stellar USDC as the “go-to” stablecoin for projects which make use of a digital dollar currency for global settlement.
The Stellar ecosystem are looking for new ways to meet their liquidity needs to further growth. Thus having USDC ready on-chain furthers the support requirements of these companies. Thus, removing roadblocks for the fast-growing projects like enabling cross-border payments and remittances on Stellar, which will ultimately drive toward SDF’s goal of expanding financial inclusion and access.
SDF will continually evaluate projects and their potential value to the Stellar network, and based on that funding will be available for different ecosystem needs. This will include working capital loans to payment companies and debt financing for lending businesses.
Community Response: This is awesome, Denelle, but whatever you do, don’t accept any invitation from Gary to “come see” him. You’ll regret it.
That is great news. With pendulum_chain building the DeFi infrastructure, Stellar will be top-tier network for the next generation of finance.
Pendulum does the job of connecting Fiat to DeFi.
XLM Price Prediction: Stellar traps bulls as it targets $0.195
- Bulls picked up Stellar coins at the monthly S1 pivot near $0.26
- Although Stellar price action looks to claw back, a bear trap appears to be forming.
- A bull trap would spell bad news for XLM price action that could fall to $0.19
Since Wednesday, the Stellar (XLM) price has been paring back losses, but price action has already started to fade on XLM. Bulls cannot push the price above $0.30, and XLM price has startedto form a bull trap. A further downturn would spell more buyers’ headaches as the downtrend would still be intact and attract more sellers to the stage.
Stellar bulls worries as downtrend look to be intact
Stellar price looked to favor the bulls on Thursday as price action in XLM tried to push above $0.30. With the price fading today, it seems as if a bull trap is being formed. Price not getting back above the $0.30 level spells bad news for the buyers in Stellar. As that $0.30 level starts to drift away, buyers will start closing their positions, giving sellers the chance to drive price action further down. With not many supporting factors in the way, expect a retest of the monthly S1 supporting pivot at $0.26.
XLM price will not stop there, and buyers will get stopped out upon the stops that they placed just below the S1 monthly support. As this will prove that the downtrend in Stellar price action is still very much intact, expect a break lower $0.20. With the confirmation of that downtrend, sellers will add short positions along the way as there are few places where buyers will step in between $0.26 and $0.20.
XLM/USD daily chart
Except with the downtrend, sellers stay in charge of the Stellar price until some supporting grounds can be found where buyers might start to go long again when Stellar has been discounted enough in its price. That level looks to be $0.20, which is the low of last summer and has proven its importance on two occasions already.
Should any favorable tailwind reemerge and XLM push price action back toward the buyers, expect a shift in sentiment back toward $0.30. It would be imperative, however, that a daily or even a weekly close above there is needed to break the downtrend unfolding at the moment.
Stellar-Polygon Bridge Goes Live to Expand XLM Usage in DeFi
NewsCrypto is going to unveil a mechanism to allow Wrapped XLM tokens to get integrated into DeFis on Polygon
NewsCrypto (NWC), a multi-purpose platform for crypto education and development, received a grant from Polygon (MATIC) to create an interoperability protocol between the two networks.
Stellar-Polygon bridge launches with Wrapped XLM
According to the press release shared with U.Today, Stellar (XLM) and Polygon (MATIC), two mainstream smart contracts environments, will be 100% interoperable as the new bridge launches.
The system, developed by the NewsCrypto (NWC) platform, is backed by a massive developer grant from the Polygon team. To create this bridge, NewsCrypto (NWC) leveraged its unmatched expertise with Stellar (XLM).
The new protocol will support nearly instant swaps with zero fees. Its security design boasts decentralized multi-sig schemes and Chainlink’s proof-of-reserve (PoR) module for safe and peer-to-peer interaction of all of its participants.
Recently, the system has undergone a thorough audit by Proxima, a high-profile blockchain security vendor.
$10 billion Stellar (XLM) ecosystem can be used in DeFi
Arjun Kalsy, VP of Growth at Polygon, states that the new instrument will ensure the inflow of liquidity to Polygon-based DeFi ecosystem:
NewsCrypto is looking to deploy their learning solution stack and becoming a part of the Polygon network. With the newest Stellar – Polygon bridge designed and developed by NewsCrypto, the Stellar network community can now transfer liquidity and engage with Polygon’s growing ecosystem.
For Stellar, this step will reaffirm its focus on expanding into the DeFi segment. As covered by U.Today previously, with its Project Venus, Stellar devs introduce a new type of smart contract.
Vid Gradišar, CEO of NewsCrypto, emphasizes the paramount importance of this announcement for the progress of DeFi on Stellar (XLM) and Polygon (MATIC):
The Stellar bridge represents an important pivot for us into infrastructure projects. The Stellar ecosystem is criminally underserved by popular interoperability solutions, far less than its capacity would imply. We knew that without us, it would’ve stayed the same, so we went ahead and connected the $10 billion XLM ecosystem to DeFi on Polygon.
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