Coinbase’s integration of USDC on the Stellar network enables faster and low-cost transactions, with near-instant speeds and settlement times as quick as 5 seconds.
This collaboration expands access to the global digital dollar, allowing seamless conversion between fiat cash and USDC through partnerships with Moneygram, Coinme, and supporting wallets across over 180 countries.
Coinbase, a leading cryptocurrency exchange, has made a significant move in the world of digital currencies. In a recent tweet, Coinbase announced its official support for USD Coin (USDC) on the Stellar network. This collaboration unlocks a host of benefits for Coinbase’s millions of users, facilitating faster and low-cost USDC transactions. The tweet states,
“$USDC on Stellar is now officially supported by @Coinbase! Coinbase’s millions of users can now benefit from near-instant speeds on USDC deposits and withdrawals via Stellar, and more easily access the network of real-world utility. From remittances and real-time payments to global fiat and crypto on/off ramps, USDC on the Stellar network delivers real-world utility for both businesses and individuals alike.”
$USDC on Stellar is now officially supported by @Coinbase! Coinbase’s millions of users can now benefit from near-instant speeds on USDC deposits and withdrawals via Stellar, and more easily access the network of real world utility. [1/2] https://t.co/zZS7tNJhIT— Stellar (@StellarOrg) June 23, 2023
The integration of USDC on the Stellar network presents a new era of efficiency and accessibility in the world of digital currencies. By leveraging the Stellar network, Coinbase is paving the way for faster and cost-effective USDC transactions. With this integration, users can experience near-instant speeds when it comes to USDC deposits and withdrawals. The Stellar network’s infrastructure empowers Coinbase’s millions of users to easily access the network’s real-world utility, spanning a range of applications such as remittances, real-time payments, and global fiat and cryptocurrency on/off ramps.
One of the standout features of this integration is the ability to convert physical cash to crypto on a global scale. Coinbase users can seamlessly exchange fiat cash for USDC on the Stellar network, and vice versa. Thanks to partnerships with Moneygram, Coinme, and supporting wallets across over 180 countries and in more than 300,000 locations, users can access a network of global cash access points that bridge the gap between traditional fiat currencies and the world of cryptocurrencies.
This collaboration between Coinbase and Stellar signifies a significant milestone in the cryptocurrency industry. By expanding access to faster and low-cost USDC transactions, Coinbase is enhancing the usability and adoption of digital currencies in real-world scenarios. The partnership not only benefits individual users but also strengthens blockchain interoperability and paves the way for future advancements in the field.
With Coinbase’s support for USDC on the Stellar network, the cryptocurrency ecosystem is witnessing a remarkable step forward. The tweet’s announcement is a testament to Coinbase’s commitment to innovation and its vision of creating a more inclusive and accessible financial system. By providing users with faster and cost-effective transactions, Coinbase and Stellar are driving the evolution of digital currencies and opening up new possibilities for businesses and individuals worldwide.