Wirex to support USDC on its Stellar blockchain

UK-based digital payment platform Wirex has launched USD Coin (USDC) on the Stellar blockchain within the Wirex app.

USDC support on Stellar will be of immediate availability within the Wirex app, letting users save or spend USDC instantly and in real-life using the companies’ crypto-enabled debit card. Users can earn up to 8% in WXT rewards for every purchase made in-store or online. USDC is redeemable 1:1 for US dollars, as it is a fully reserve-backed stablecoin issued by Circle, a regulated US fintech, whose reserves are held in US financial institutions and audited monthly by Grant Thornton LLP.

The Wirex, SDF collaboration dates to 2019, having a shared goal of democratising access to the digital economy, their collaboration enables Wirex’s users to access Stellar based USDC and Lumens in 39 countries.

The two organisations have been working together to advance the adoption and understanding of the financial landscape, having commissioned, and released research reports to help understand user’s crypto habits and adoption