Stellar: Increased Use of USDC and Launch of New Tokenized Bond Projects

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by Giorgi Kostiuk

a year ago

Recent developments on the Stellar network include the rise of USDC usage and new projects in tokenization. This article covers the growth of USDC exchanges, the launch of Arkadia, and interoperability testing with Celo.

Rise in USDC Usage on Stellar

Usage of USD Coin (USDC) on the Stellar network increased by 45% last quarter. This growth was largely driven by the integration of fintech in Africa and partnerships with licensed remittance providers.

Launch of Arkadia Tokenized Bond Project

The Arkadia project has launched on Stellar, aiming to issue tokenized municipal bonds for US cities. The initiative is supported by asset manager Franklin Templeton to enhance operational efficiency.

Stellar Collaboration with Celo for Compatibility Testing

Stellar is collaborating with Celo to test a compatibility solution, deploying a trustless bridge architecture in their testnet phase. This cooperation potentially opens access to decentralized finance tools and expands the user bases on both blockchains.

The Stellar network continues to advance in areas related to stablecoin usage and asset tokenization, leading to the creation of more efficient financial instruments and facilitating interaction between blockchains.

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