Stellar Ecosystem
News

Vesseo is a wallet app built on Stellar by Sunship, Inc. (a Stellar Development Foundation subsidiary) that enables Argentines to easily purchase and hold USDC stablecoins to protect against peso inflation. The app leverages Stellar's speed, low fees, and integrations with anchors like Settle and Circle to provide a simple user experience for accessing dollar-backed value.

This article explains what anchors are on the Stellar network—organizations that bridge traditional banking systems to Stellar, enabling users to exchange fiat currency for digital assets. It covers anchor types, benefits, and how to become one through the Anchor Platform.

The Stellar Newsletter highlights upcoming events like Meridian 2023 in Madrid with Idris Elba, MoneyGram's USDC case study on Stellar, and Coinbase's integration with USDC on the network. It covers improvements to the Anchor Directory, wallet on/off-ramp integrations, Soroban infrastructure projects, and a new Soroban security bug bounty. Developer updates include proposed transaction changes and SCF submission best practices.

Soroban Preview 10 introduces new State Expiration logic to address blockchain bloat issues, along with Rust SDK changes and clearer smart contract limits. July focused on refactors rather than new features, including rethinking governance token distribution. A new Stable Liquidity Pools contract for stablecoins is in development for future deployment.

Coinbase now supports USDC deposits and withdrawals via Stellar, enabling millions of users to access faster, low-cost digital dollar transactions with near-zero fees and 5-second settlement times across 180+ countries.

Franklin Templeton's OnChain U.S. Government Money Fund, which uses Stellar blockchain for record-keeping, now has over $290 million in assets under management. The firm is exploring blockchain's potential to transform capital markets through tokenization and smart contracts.

Argentina's economic instability and poor official exchange rates drive citizens to seek better alternatives for currency exchange. Beans, a non-custodial wallet on the Stellar blockchain, uses stablecoins like USDC to enable tax-free, market-rate conversions between USD and ARS, often surpassing the blue dollar rate. This allows faster, cheaper cross-border transfers with added features like free transactions and interest-bearing savings.

The Stellar Development Foundation is using blockchain technology and the Stellar Disbursement Platform to deliver humanitarian cash aid at scale, enabling instant, low-cost, transparent fund transfers to aid recipients globally through digital wallets and stablecoins.

The Stellar Development Foundation outlines emerging global consensus on stablecoin regulation, highlighting core principles around transparency, reserve backing, and consumer protections that align with SDF's asset issuance framework as jurisdictions like the EU and UK advance comprehensive crypto regulatory frameworks.

The Stellar Newsletter highlights Q1 achievements including Franklin Templeton's OnChain Fund surpassing $270M AUM on Stellar blockchain, SDF's strategic progress, and new board member Asiff Hirji. It covers partnerships like Arf, Cebuana Lhuillier, and blockchain remittances, plus Soroban smart contracts developments and community spotlights. Upcoming Meridian 2023 in Madrid is announced.

The Stellar Development Foundation met with UK government officials to discuss digital assets regulation, submitting a response to HM Treasury's consultation on cryptoasset frameworks and stablecoin requirements.

Franklin Templeton's OnChain U.S. Government Money Fund surpassed $270 million in assets under management on Stellar, with the Stellar Development Foundation CEO highlighting regulatory clarity as key to mainstream adoption. The fund is now accessible via the Benji Investments app.

Stellar Development Foundation launched Stellar Aid Assist, a stablecoin-based platform enabling humanitarian organizations to distribute cash aid via USDC through the Stellar network. The platform eliminates intermediaries, reduces costs to near-zero, and provides recipients secure access to funds without bank accounts, currently piloted with Ukrainian refugees.

FinClusive and Anclap launched a pilot program on Stellar demonstrating that blockchain-based remittances between the US and Colombia cost roughly half traditional methods (2.68% vs 5.36%), using stablecoins like USDC for faster, cheaper cross-border transfers.

AMA recap with MYKOBO CEO Seyi Akin-Olugbemi, issuer of the EURC Euro stablecoin on Stellar. He discusses his background in fintech, the motivation behind MYKOBO for financial inclusion in Africa, and why Stellar is ideal for value transfer. MYKOBO app supports EURC, USDC, XLM, and AQUA, all on Stellar, with upcoming liquidity pools.

Thomaz Texeira, CEO of nTokens, discusses building fintech solutions on Stellar in this founder interview. He explains how blockchain democratizes finance globally and why smart contracts will enable programmable money for underserved markets.

Blend is a new liquidity protocol primitive for Stellar, enabling anyone to create insured lending pools with Soroban smart contracts. It provides lending and borrowing capabilities, adapting to market conditions while protecting suppliers via a backstop module. The protocol enhances Stellar's ecosystem for fintech, trading, DAOs, and DeFi applications.

Coinme and the Stellar Development Foundation launched USDC on Stellar through Coinme's wallet and 40,000+ U.S. cash locations, enabling low-cost conversion between physical cash and digital dollars for financial inclusion.

MYKOBO has reduced its minimum crypto-to-crypto send and buy/sell values from €20/20 EURC to €1/1 EURC, making trading and transfers more accessible. This change aims to empower users of all trade sizes in the crypto economy. MYKOBO issues the EURC stablecoin on the Stellar blockchain, bridging European finance to blockchain.

Arf launched a USDC-backed working capital solution in partnership with the Stellar Development Foundation, providing unsecured short-term loans for cross-border payment institutions. Within four months, the platform deployed $80M across 800+ locations globally, generating $150M in cumulative on-chain USDC volume.

MYKOBO, issuer of the EURC euro stablecoin on the Stellar blockchain, assures users of its secure and audited reserves amid the USDC depeg event. The company highlights its robust reserve management and adherence to regulations, positioning EURC as a stable bridge between European finance and blockchain. Monthly attestation reports are available for transparency.

Stellar launched the Spacewalk bridge to Polkadot and Kusama via Pendulum, connecting DeFi applications to forex markets and Stellar's fiat on-ramps across 300,000+ MoneyGram locations worldwide. The bridge enables stablecoin transfers including USDC and regional currencies like Argentine pesos and Brazilian reals.

The Stellar Newsletter highlights the Soroban Adoption Fund with $100M in opportunities, including a $10M Stellar Community Fund program for Soroban projects and developer initiatives like Sorobanathon. It covers UNHCR's nomination for blockchain impact award using Stellar for aid in Ukraine, partnerships like Beans App with MoneyGram, and technical updates on Pull Mode and Ubuntu upgrades. Community events, policy priorities, and developer resources are also featured.

EURC is a Euro-pegged stablecoin launched on the Stellar blockchain by UAB MYKOBO, offering secure, fast, and sustainable transactions. It has seen significant adoption with over 150k in circulating supply and substantial trading volume on Stellar's DEX. To celebrate its launch and MYKOBO's anniversary, zero transaction fees are offered throughout March 2023.

The Stellar Development Foundation outlines its 2023 policy priorities, including advocating for robust blockchain regulation, pushing for bipartisan stablecoin legislation, and demonstrating real-world blockchain utility through projects like MoneyGram and Stellar Aid Assist.