SAN FRANCISCO, CA — February 10, 2022 — Okcoin, one of the world’s fastest-growing cryptocurrency platforms, and the Stellar Development Foundation (SDF) announced today that Stellar USDC is now available on the Okcoin platform. With this launch, Okcoin becomes the first exchange to enable USDC deposit and withdrawal via Stellar for users in the U.S., providing a notable on-ramp in the U.S. for retail and institutional customers.
This integration marks a step in an ongoing effort to expand access to a faster and cheaper USDC. USDC on Stellar allows for near-zero transaction costs and provides incredibly fast settlement, taking about 5 seconds to finalize a transaction. A growing number of businesses and wallets on the Stellar network are leveraging USDC to improve their offerings and expand into new markets. Okcoin will provide another critical access point for such users by supporting the deposit and withdrawal of USDC on the Stellar blockchain.
Okcoin is an exchange serving over 190 countries and is one of the largest exchanges globally. “We’re proud to be the first exchange to bring Stellar USDC to the US market,” Hong Fang, CEO of Okcoin, said. "Stablecoins play a critical role in the decentralized economy and this asset, in particular, is enabling a truly borderless digital dollar. Stellar USDC’s utility, speed, and security make it a natural fit for our platform.”
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, said, “This integration will ensure that more users can leverage the utility of USDC on Stellar to open up payment pathways and expand on use cases. We’re pleased that Okcoin is introducing the speed and low-cost of USDC on Stellar to its platform and providing greater access.”
This is the first Stellar-based stablecoin available on Okcoin. For more information about the use and benefits of USDC on Stellar, visit stellar.org/products-and-tools/circle-usdc-eurc.
Founded in 2013, Okcoin is a global cryptocurrency exchange headquartered in the US. The platform serves retail and institutional investors across 190+ countries and territories — more locations than any other US-based exchange. Retail users can buy over 50 different cryptos directly with USD, EUR, BRL, and SGD, in addition to trading digital assets and growing them using Earn, Okcoin’s DeFi and staking feature. Okcoin also offers institutional trading tools and APIs to asset managers, venture capital and hedge funds, retail brokers, and payment processors, among other entities around the globe. Okcoin is licensed in the US, European Union, Canada, Puerto Rico, and more with offices across the globe. Follow Okcoin on Twitter at @Okcoin and visit okcoin.com for more information.
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. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 6 million accounts.
About 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.