Money Transfer Platform Airtm Moves to USDC on the Stellar Blockchain

Key Highlights:

• Airtm has announced its big transition to USDC on the Stellar blockchain to enhance cross border payments.
• USDC sets to offer global accessibility, frictionless transactions, and reduced fees following the platform’s efforts to enhance user experience and align with evolving industry standards.

Renowned money transfer platform, Airtm, has announced that it has completed its transition from AirUSD to USDC on the Stellar blockchain. 

The big move marks a significant milestone for the platform following its unrelenting efforts to contribute to the advancement of the blockchain ecosystem.

According to Airtm’s tweet on the thrilling development, the transitioning will see the platform extend its reach to a global audience while providing enterprises with seamless access to the web3 infrastructures.

We are thrilled to announce our groundbreaking transition to USDC on Stellar. This first crucial step aims to provide enterprises with unparalleled access to the cutting-edge infrastructure of Web 3.0 for cross-border payments. pic.twitter.com/C3NG6GnePa

— Airtm (@airtminc) August 25, 2023

AirUSD’s Evolution to USDC on Stellar Blockchain

Prior to the transition, AirUSD had been the digital representation of USDC on the money transfer platform since its inception in 2021. All the while, AirUSD has maintained a 1-1 equivalence with USDC on the Stellar network.

USDC on the other hand is a renowned stablecoin which guarantees a value equivalent to the US dollar, offering stability and confidence in digital transactions. The stablecoin was issued by Circle across multiple decentralized ledgers, including the Stellar Network to ensure accessibility and availability around the clock. 

Nonetheless, as part of Airtm’s commitment to innovation and further advancement, the platform has embraced the adoption of USDC, the fully reserved digital dollar issued by Circle, as the primary digital currency for all Airtm transactions.

Notably, this remarkable shift had began on August 15th, aligning perfectly with Airtm’s vision to provide adequate 24 hours service to its users, ensuring near-instant settlements with minimal fees.

Airtm to Expand Global Reach Per Integration With USDC’s Ecosystem

According to the announcement, the move promises exclusive benefits to users of Airtm while improving the efficiency of the platform.

Notably, the transition is set to launch the platform to a globally interconnected ecosystem, where users can enjoy swift and efficient cross-border transactions with no complications.

In addition to this, AirUSD’s shift to USDC, Circle’s fully-reserved digital dollar, will provide Airtm with necessary web3 infrastructures to empower enterprises with a host of exceptional benefits. Due to this, a new payment standard is about to set in to facilitate their financial services.

Moving forward, Airtm guarantees a global reach, frictionless transactions, and reduced costs. The transition ensures that account balances will be automatically converted into USDC, maintaining a 1:1 ratio without requiring user intervention.