Stellar Development Foundation invested $5 million in Wyre, a blockchain payments company, to integrate payment APIs and on/off ramps for USDC stablecoin across USD, GBP, CAD, AUD, and EUR pairs on the Stellar network.
The Stellar Development Foundation announced a $5 million investment in Wyre, a blockchain payments company, to expand the Stellar ecosystem's payment infrastructure. The investment will integrate Wyre's payment APIs into fintech applications on Stellar and establish on/off ramps for Stellar USDC stablecoin in five fiat currency pairs: USD, GBP, CAD, AUD, and EUR. SDF CEO Denelle Dixon emphasized that growing the network of Stellar anchors and stablecoin issuers is fundamental to connecting global financial systems with blockchain technology. The partnership will enable businesses and anchors to expand existing payment corridors and develop new ones.