Coinme, a popular U.S. cash exchange for cryptocurrencies, and the Stellar Development Foundation, a non-profit organization committed to promoting the growth and development of the Stellar network, have announced that Circle’s USDC can now be accessed on Stellar through the Coinme Wallet and its global cash onramp and offramp ecosystem.
According to the announcement, Coinme’s incorporation of USDC on the Stellar platform will enable individuals to convert physical cash into digital cash and access USDC on the Stellar network from multiple retail locations nationwide, streamlining the process of cashing in, cashing out, sending, and receiving USDC on Stellar, making it easy and cost-effective.
The announcement added that Coinme’s vast cash network and presence in numerous retail locations allow users to experience blockchain technology’s practicality and make USDC on Stellar the ideal cryptocurrency for beginners.
Neil Bergquist, CEO and co-founder of Coinme, stated that the integration of USDC on Stellar within the Coinme Wallet allows individuals to access a dollar-backed digital currency using cash. Bergquist added that a user could easily convert their cash into USDC on Stellar and instantly transfer it in seconds for the cost of a penny.
Bergquist stated:
“The combination of Coinme’s vast cash network, USDC, and the Stellar network is a game changer for the cash remittance and payments market.”
Coinme operates the biggest cryptocurrency cash network in the United States and has a rapidly expanding presence of more than 40,000 locations throughout the country. Coinme Wallet allows users to send and receive USDC at a minimal cost for peer-to-peer transactions and provides quick payments to friends and family regardless of location.
According to Denelle Dixon, CEO and Executive Director of Stellar Development Foundation, this partnership expands access to the digital economy for more individuals, offering near-zero transaction fees and rapid settlement.
Dixon also stated:
“What Coinme has accomplished is inspiring to the rest of the blockchain industry, and today’s milestone only amplifies what is shaping up to be a brilliant future for the Stellar network.
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