Wallets are an important category of applications leveraging Stellar, providing businesses and individual consumers an interface that lets them store, send, and receive value in the form of digitized tokens. By connecting users directly to the Stellar network while providing them a positive experience, wallets promote mainstream adoption of blockchain-powered payments and increase access to the global financial system.
Stably, a fintech company whose mission is to make financial transactions faster, cheaper, and more transparent, is launching a fiat deposit/withdraw API to be used by any wallets in the Stellar ecosystem. By offering a SEP-24 compliant on/off ramp to Stellar USDC, Stably’s API allows wallets on Stellar to integrate with it with little effort, giving its users direct access to USDC. Additionally, Stably is allowing users to deposit and withdraw Stellar USDC and USDS into Stably Prime, their own borderless wallet platform powered by stablecoins and asset-backed tokens.
Stably is no stranger to stablecoins, having built a large portfolio of stablecoins collateralized by different asset classes, including fiat currencies, securities, and commodities. But USDC positions Stably to offer a more frictionless experience thanks to the asset’s reputation and liquidity on Stellar’s fast and cost-efficient network. B2B businesses, fintech companies, underbanked industries, and emerging markets now have access to a US-based on/off ramp and a USD stablecoin that lets them transition from fiat to stablecoin seamlessly.
Building on the recent launch of their deposit/withdraw API, Stably will soon launch a SEP-31 integration, allowing Stably Prime users and other Stably customers to send and receive USDC and USDS directly into international bank accounts, digital wallets, or mobile money accounts through the Stellar anchor network.
After building on several blockchains, Stably ranks Stellar high on the list. Stably developers report that integrating their business with Stellar USDC has been easier compared to integrating other stablecoins on other blockchains. Other blockchains are smart-contract based whereas Stellar’s tokenization features are built into its protocol, making the integration process a lot simpler.
Stably CEO and Co-founder Kory Hoang stated, “Stellar was one of the initial blockchains that Stably decided to explore. While we have tested our product on other blockchains, we always planned to bring our product onto Stellar. With Stellar USDC, we’re making it happen.”