- The Stellar Blockchain will support USDC from starting next year
- The token will launch on Stellar in quarter one of 2021
- USDC is already supported by Ethereum and Algorand
Stellar Lumens News Today – it appears that the Stellar network has landed a new milestone. The latest report relating to Stellar Lumens is that the USDC stablecoin (the stablecoin developed by the Centre Blockchain), will reportedly launch on the Stellar network.
Per the report, the firm announced that USDC will launch on the Stellar Blockchain in the first quarter of next year. The USDC stablecoin is already supported by the Ethereum and Algorand Blockchains. In September, the latter option became the second Blockchain network to support the stablecoin.
Circle Values Stellar’s Increased Interoperability
Regarding the move, the CEO of Circle Jeremey Allaire had this to say in a statement:
“We highly value the wide range of developers and increased interoperability that the Stellar network offers. This is why we look forward to seeing how the decision to add a firm and stable USD anchor to the Stellar network grows its ecosystem.”
Both Circle and Coinbase exchange are the two firms behind the Centre Blockchain. According to The Block’s Data Dashboard, there are over 2.8 billion USDC tokens in circulation. This makes the USDC tokens the second-largest stablecoin offering in the market behind Tether’s USDT. As of when the report has published the price of Stellar was trading at $0.072932 having dropped by 1.38% during the last 24-hours of trade. The digital asset had a market cap of $1,517,868,504 in the same period.
Libra Hires New HSBC Alum
The Libra Network has continued its recruitment policy by bringing in another HSBC alum to serve as its CTO (chief financial officer) and chief risk officer. The report came via an official announcement. Ian Jenkins previously served as HSBC’s Group General Manager and Head of Business Finance. He worked at Credit Suisse and Santander as well. Now, he will be joining Libra in a more operational stage of the project. The statement was issued by James Emmett, Libra Networks MD (Managing Director). Emmett is a former HSBC employee as well. He only took the new role at Libra last month.
The association is created to manage the operations and running of the coming Blockchain-powered payment model. The project has reportedly faced scrutiny since it was announced in 2019. It also included several Congressional hearings. In recent weeks it has been on a hiring spree after adding the former Homeland Security general counsel to its payroll. The above-mentioned position will work as a top lawyer for the association. Meanwhile, HSBC’s former Chief Legal Officer has been hired to serve as its CEO. The firm has also added three lobbyists.