Okcoin is the first U.S. regulated crypto exchange to offer USDC on top of Stellar. Here’s why it matters, in simple terms. 🤓
TL;DR
- What? You can now deposit, withdraw, and trade Stellar USDC against USD on Okcoin.
- Who? All Okcoin customers except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposit, withdrawal, and trading are live as of February 9.
What’s Stellar USDC?
Stellar USDC is the combination of two big innovations in the payment world, Stellar and USDCoin (USDC). Stellar is an open source blockchain project that focuses on low-cost, high-speed cross-border payments. USDC is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it’s always redeemable 1:1 for U.S. dollars. Using USDC on top of Stellar offers a new way to deposit and withdraw money, with three big advantages:
- Empowerment. Users can choose which blockchain to use when transferring crypto.
- Speed. Transactions on the Stellar blockchain are typically confirmed in 3-5 seconds.
- Cost. The network’s transaction costs (regardless of size) are negligible, currently averaging a little over 0.00001 XLM (Stellar network’s token).
On top of that you can earn even more on your USDC by staking it with Okcoin Earn. All you need to do is move Stellar USDC on Okcoin and lock it on Earn in a few clicks.
