Asian cryptocurrency exchange platform Liquid this week announced Stellar USDC is now available on Liquid. This will include multi-chain support for USDC by expanding into a Stellar-based version.
Users will see fee-free USDC withdrawal capabilities, Liquid COO Seth Melamed said.
“Liquid focuses on increasing cryptocurrency adoption by introducing a technologically superior alternative to traditional payment rails. By allowing Liquid customers to send USDC over the Stellar blockchain, transaction time and network fees are reduced significantly compared to the original Ethereum USDC token.”
Thanks to the multi-chain integration, Liquid’s customers can now choose which network they want for USDC withdrawals. Stellar USDC could save them an average of $12-15 on each transaction when compared to other networks affected by pricing surges, Liquid said.
“Stellar USDC gives our customers a real liquidity advantage over other blockchain protocols, reducing blockchain transaction costs and confirmation times,” Melamed added. “We’re excited to continue the partnership with SDF and have planned a fast-follow to enable additional Stellar-based stablecoin assets representing more world currencies on the Liquid platform.”
“It’s great to see Liquid bringing the speed and cost advantages of the Stellar network to their customers,” Stellar Development Foundation CEO and executive director Denelle Dixon said. “This offering provides valuable interoperability to USDC users and will bring meaningful volume and liquidity to the Stellar ecosystem. As more ecosystem partners use the Stellar network for currency interoperability and worldwide coverage, we are making progress toward our mission of creating equitable access to the global financial system.”