Mercado Bitcoin integrates USDC on Stellar

News provided by

May 31, 2022, 08:00 ET

Customers will be able to transact faster and cheaper with USDC on the Stellar network

SAN FRANCISCO, May 31, 2022 /PRNewswire/ -- As of today, customers of Mercado Bitcoin, the largest platform for digital assets in Latin America, will have access to USDC issued on the Stellar network, which offers fast and affordable transactions.

It is the first time that the Mercado Bitcoin platform has offered the same asset issued by different networks. Now, with the possibility of transacting using USDC with lower fees, a fraction of one cent per transaction, the customer will be able to choose the network most suitable for their needs.

Since 2014, the Stellar network has been offering safe and cheap transactions. In the first quarter of 2022, it processed an average of $8.6 million a day in payments. Currently, it has also been one of the most chosen networks for payments, tokenization, and issuance of real assets.

"USDC on Stellar provides Mercado Bitcoin customers both valuable interoperability and a truly borderless digital dollar," said Denelle Dixon, CEO of Stellar Development Foundation. "As we continue our mission of creating equitable access to the global financial system, this integration is a mutually beneficial step forward. MB is one of the largest digital assets exchanges in the southern hemisphere, with the potential to bring significant volume and liquidity to the Stellar network."

By the end of 2022, the network plans to launch native smart contracts that will unlock the creation of numerous applications, which will further increase the utility of USDC on Stellar.

About Stellar

Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world's financial infrastructure. Dozens of financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 6 million accounts. For more information, visit stellar.org.

About the Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world's financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar's codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world's economic potential through blockchain technology. For more information, visit stellar.org/foundation.

About Mercado Bitcoin - Mercado Bitcoin is the largest cryptocurrency and alternative asset trading platform in Latin America. The company, which offers freedom, security, and liquidity in trading, is among the 25 most trusted exchanges in the world to trade cryptoassets, according to a study conducted by the Blockchain Transparency Institute (BTI). With more than 3.5 million customers and more than R$40 billion traded since its creation in 2013, the company is transforming people's relationships with their own money and democratizing access to alternative assets with liquidity and security.

SOURCE The Stellar Development Foundation