Liquid and SDF logos
One of the leading Asian cryptocurrency exchanges, Liquid, on the 13th of July, listed a Stellar blockchain-powered USDC stablecoin. The Tokyo, Japan, headquartered digital asset trading platform offers fee-free withdrawals for the newly-listed stable-asset.
Asia-based Liquid Group, Inc, operator of the Liquid crypto trading platform on Tuesday, the 13th of July, announced that the Stellar Development Foundation‘s Stellar USDC stablecoin had been listed on the exchange. By adding a Stellar-powered version of the USDC stable crypto asset, the digital asset trading platform seeks to offer multi chain support for the token.
Offering multi-chain support for selected digital assets serves to further the company’s mission to drive blockchain interoperability, mitigate the issues associated with periodic increases in blockchain transaction fees, as well as, foster a more welcoming customer experience. In addition to that, the exchange will charge no fees on Stellar-based USDC, this – according to the exchange – is geared towards maximizing the benefits of customers who operate in the asset.
“Liquid focuses on increasing cryptocurrency adoption by introducing a technologically superior alternative to traditional payment rails. By allowing Liquid customers to send USDC over the Stellar blockchain, transaction time and network fees are reduced significantly compared to the original Ethereum USDC token.” – stated Seth Melamed, Chief Operating Officer at Liquid Group, Inc.
Due to the trading platform’s multi-chain integration strategy, users of Liquid have the power to choose which blockchain network they would like to use for withdrawal transactions. This could potentially save their customers an average of $12-$15 – when withdrawing to Stellar – compared to other USDC supportive networks.
Stellar-StellarUSDC withdrawals also carry the benefit of speed. Users opting to leverage the Stellar network for withdrawals will be able to move their value around in mere seconds, as compared to the minutes-hours it takes to process transactions on other blockchain platforms.
“Our objective is in our name: Liquid. And Stellar USDC gives our customers a real liquidity advantage over other blockchain protocols, reducing blockchain transaction costs and confirmation times. We’re excited to continue the partnership with SDF and have planned a fast-follow to enable additional Stellar-based stablecoin assets representing more world currencies on the Liquid platform.” – Melamed.