CoinMENA Introduces Fast, Cost-Effective USDC Deposits & Withdrawals on Stellar

CoinMENA is thrilled to announce the addition of USD Coin (USDC) deposits and withdrawals via the Stellar network, providing our users with seamless and efficient transactions using this highly popular stablecoin.

USDC is a stablecoin created by Coinbase and Circle in 2018. Similar to USDT and other USD-backed tokens, USDC maintains a fixed price of $1. This stability is achieved by holding $1 of USD in reserve for every USDC created. With a market capitalization of $27 billion, USDC has solidified its position as the world's second most popular stablecoin after USDT (Tether). The MENA region, in particular, has witnessed rapid growth in stablecoin usage due to the prevalence of regional currencies pegged to the U.S. dollar.

USDC transactions on Stellar offer a low costs solution and near-instantaneous settlement. This feature allows users to send and receive USDC quickly while minimizing transaction costs, making it an attractive option for both retail users and businesses alike.

Retail users can leverage USDC to send value peer-to-peer seamlessly. Whether it's remittances to family and friends or making purchases from international vendors, USDC provides a stable and efficient means of value transfer.

For businesses, USDC on Stellar presents an excellent plug-and-play solution. The stability of USDC, combined with the fast settlement times and low transaction costs on the Stellar network, makes it an ideal choice for merchants looking to offer their customers a more convenient and less costly solution to transfer value.

By introducing USD Coin (USDC) deposits and withdrawals via the Stellar network, CoinMENA is delivering on its mission to provide innovative financial solutions built on crypto rails. We invite you to head over to CoinMENA now and experience the convenience of withdrawing or depositing USDC via Stellar.