Okcoin, one of the world’s fastest-growing cryptocurrency platforms, and the Stellar Development Foundation (SDF) announced today that Stellar USDC is now available on the Okcoin platform. With this launch, Okcoin becomes the first exchange to enable USDC deposit and withdrawal via Stellar for users in the U.S., providing a notable on-ramp in the U.S. for retail and institutional customers.
This integration marks a step in an ongoing effort to expand access to a faster and cheaper USDC. USDC on Stellar allows for near-zero transaction costs and provides incredibly fast settlement, taking about 5 seconds to finalize a transaction. A growing number of businesses and wallets on the Stellar network are leveraging USDC to improve their offerings and expand into new markets. Okcoin will provide another critical access point for such users by supporting the deposit and withdrawal of USDC on the Stellar blockchain.
Okcoin is an exchange serving over 190 countries and is one of the largest exchanges globally.
"We're proud to be the first exchange to bring Stellar USDC to the US market," Hong Fang, CEO of Okcoin, said. "Stablecoins play a critical role in the decentralized economy and this asset, in particular, is enabling a truly borderless digital dollar. Stellar USDC's utility, speed, and security make it a natural fit for our platform."
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, said,
"This integration will ensure that more users can leverage the utility of USDC on Stellar to open up payment pathways and expand on use cases. We're pleased that Okcoin is introducing the speed and low-cost of USDC on Stellar to its platform and providing greater access."