Wirex Introduces USDC on Its Stellar Blockchain

UK-based digital payment platform Wirex has launched USD Coin (USDC) on the Stellar blockchain within the Wirex app.

Apart from expanding access to Stellar-based digital assets, the announcement marks a milestone in an ongoing collaboration between Wirex and the development of the Stellar Development Foundation (SDF), a non-profit organisation aimed at supporting the growth and development of the Stellar network.

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USDC support on Stellar will be of immediate availability within the Wirex app, letting users save or spend USDC instantly and in real-life using the companies' crypto-enabled debit card. Users can earn up to 8% in WXT rewards for every purchase made in-store or online. USDC is redeemable 1:1 for US dollars, as it is a fully reserve-backed stablecoin issued by Circle, a regulated US fintech, whose reserves are held in US financial institutions and audited monthly by Grant Thornton LLP.

(Source: The Paypers)