Circle announced USDC stablecoin integration with Stellar blockchain starting Q1 2021, triggering a 10% price surge in XLM to $0.08 and doubling trading volumes. USDC becomes Stellar's first major USD-pegged stablecoin.
Circle and Coinbase announced that USDC, the leading US dollar-pegged stablecoin with a $2.7 billion market cap, will integrate with the Stellar blockchain by Q1 2021 through Circle's payments infrastructure APIs and business account products. The announcement drove XLM price up 10% to $0.08 in 24 hours and doubled trading volumes to $274 million. Stellar becomes USDC's third official blockchain alongside Ethereum and Algorand. Denelle Dixon, CEO of the Stellar Development Foundation, stated the integration will expand global reach and create new growth opportunities for developers and businesses on the network.