The company said in its statement, “EURC can be send, spend, hold, and trade anywhere in the world 24/7 with low-cost, almost instant transactions.” Stellar is the third chain, following the Ethereum and Avalanche networks.

EURC will integrate with assistance payment and cash aid systems like Stellar Aid Assist. Moreover, Circle stated that it will work alongside Stellar to securely provide financial aid to those affected by humanitarian crises that severely impact local services.

Vice President of Circle Product Management, Rachel Mayer, also mentioned; “The launch of EURC on Stellar has the potential to radically improve European remittance corridors, cross-border payments, treasury management, and aid payments.”

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Cheaper and Faster

Circle noted that crypto service provider Ripio in Latin America has expanded to Spain. Along with this, the company indicated that it would add EURC to its in-app crypto wallet through a partnership, allowing users to make euro deposit and withdrawal transactions.

Co-Founder of Ripio, Sebastian Serrano, expressed his excitement, stating; “We are thrilled that people in Spain now have seamless access to digital assets like EURC and can enjoy faster and cheaper transactions worldwide.”

According to CoinMarketCap data, the price of Stellar’s native crypto asset XLM is currently at $0.1115, with the highest being $0.1129 and the lowest at $0.1109 in the last 24 hours.

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The post Circle Launches Stablecoin Eurc on Stellar Network appeared first on Coin Engineer.

Circle, the issuer of USDC, is teaming up with Mercado Libre, often referred to as “LATAM’s Amazon” due to its vast user base of 200 million. Users of Mercado Libre’s fintech service, Mercado Pago, are on the verge of gaining access to USDC for transactions, beginning with the Chilean market. Circle enables Mercado Libre’s Mercado Pago users to access USDC for Chilean transactions.

1/ The largest fintech in LATAM, @mercadopago, part of Mercado Libre, the Amazon of LATAM with 200M users, is rolling out support for USDC in key markets, starting with Chile. Momentum for USDC and digital dollars building around the world! https://t.co/3mNQxXvNUC

— Jeremy Allaire (@jerallaire) August 29, 2023

Chile already boasts over two million Mercado Pago users, as highlighted by Matías Spagui, Director of Mercado Pago. This partnership is designed to grant Chileans access to the advantages of a digital dollar, ensuring secure, transparent, and speedy financial dealings.

Visa made headlines earlier this year by becoming the first payment network to settle USDC transactions on the Ethereum blockchain. Data from Defillama indicates that Ethereum secures approximately 84% of the total USDC in circulation. Ethereum securely holds a substantial $21.3 billion worth of USDC, with Arbitrum closely trailing behind, holding over $700 million, constituting 2.81% of the total USDC supply. Solana captures a 2.5% share, while Polygon and Avalanche each hold 2.4%.

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Matías Spagui, Senior Director of Mercado Pago, remarked, “With the introduction of this stablecoin, our goal is to diversify access to cryptocurrencies and provide more than two million Mercado Pago users with an alternative that mirrors the value of the US dollar.”

Rachel Mayer, VP of Product at Circle, also expressed, “Latin America is emerging as a hub for the digital economy, with a thriving spirit of innovation and growing interest in digital currencies.”

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The post Circle Launches USDC on Mercado Pago in Chile appeared first on Coin Engineer.