If you’re involved in global business, you’re aware of the unique challenges of moving money around the world. Whether you generate income in different countries, make cross-border payments, support a global workforce, or all three, you’ve likely experienced first-hand the challenges and complexities that come with transacting in different currencies.
But where others see challenges, you can now see opportunity. Stellar USDC is your secret weapon to enable seamless, instant, and low-cost cross-border payments — as well as other next-gen treasury-management solutions.
Stellar USDC combines the power of the Stellar network with a fully-backed and trusted digital US Dollar asset. Now, dollars can move anywhere, to anyone, in the form of Stellar USDC, and convert instantly into and out of the world’s currencies.
Stellar is an open financial network that allows money to be tokenized and instantly transferred anywhere in the world. It's like a global superhighway for money — built on blockchain technology — that can move money across any border for fractions of a penny in five seconds or less. Plus, you can access this superhighway from local roads all over the world.
Since 2014, Stellar has been connecting a growing global network of interoperable anchors; services that allow for digital value on Stellar to be deposited or withdrawn using local banking rails or payment networks. From Brazil to Nigeria, France to the Philippines, digital assets on Stellar can be on-ramped or off-ramped into local payment networks used by billions of people every day. To make interoperation easy, these anchor services follow ecosystem standards so they all work and connect in the same way.
What does that mean for you? With one integration, your platform can access anchor services from around the world. Stellar's built-in DEX means value can not only be moved instantly, it can also be exchanged instantly. An open liquidity protocol allows for easy and instant conversion between assets, even with no direct market.
If Stellar is the superhighway, then USDC is one of the most reliable cars on the road. It's issued by regulated US financial institutions, backed by fully reserved assets, and redeemable on a 1:1 basis for US dollars. It's governed by Centre — a membership-based consortium that sets technical, policy, and financial standards for stablecoins — and it doesn’t fluctuate in value: one USDC is always equal to and redeemable for exactly one traditional US Dollar. You can read more about USDC on Circle.com.
It’s all about access.
Many Stellar ecosystem businesses are currently working on integrations that will allow them to leverage USDC to improve their offerings and expand into new markets. Over the coming weeks, we'll be highlighting some of those businesses and explaining how they're using Stellar USDC, but for now, here are a few examples to illustrate what's possible:
A fintech company in East Africa wants to provide a wallet platform to SMEs in the region who need to collect payments from abroad.
A Stellar integration allows SMEs to receive USDC payments, convert them into digital versions of local assets, and seamlessly withdraw those assets to their bank accounts.
Users can now accept payments in USDC, convert to local currency, and seamlessly withdraw the value in-app to their local bank account.
A US-based cryptocurrency wallet wants to reach new markets by allowing users to remit money abroad.
The Stellar-enabled wallet connects with a USDC anchor and with anchor services in destination countries to make compliant money transmission fast and easy.
Users can now send USDC to family and friends in countries like Nigeria or Brazil, who will receive the money directly in their local bank account and currency.
An Argentinian payments fintech wants to offer simple and secure digital dollar savings to its retail and corporate clients.
A Stellar integration allows users to deposit ARS and to easily convert it to and from USDC.
Because Stellar makes asset conversion quick and cheap, users can hold a balance in dollars, and make daily payments in pesos.
It’s easy to see how Stellar USDC opens up new payment pathways and provides an alternative to legacy banking and payment systems. Are you excited to find out how this truly global dollar could benefit your business?
For more examples of how businesses use Stellar, read our case studies.