Circle announced USDC stablecoin support for Stellar blockchain by Q1 2021, making Stellar the third network to support USDC after Ethereum and Algorand. The move expands Circle's multi-chain strategy and enables Stellar developers to build financial inclusion solutions.
Circle announced that USDC, the USD-pegged stablecoin managed by Circle and Coinbase, will launch on the Stellar blockchain in the first quarter of 2021. USDC support will be integrated across Circle's payments infrastructure APIs and business account products, allowing businesses and developers to use USDC on Stellar. This marks the third blockchain network to support USDC, following Ethereum and Algorand. The announcement reflects Circle's broader strategy to reduce dependence on Ethereum and expand USDC across multiple blockchains. Denelle Dixon, CEO of the Stellar Development Foundation, stated the addition will expand global reach and create new growth opportunities for developers building on Stellar.