With a Yweni development, businesses will now be able to develop Stellar in a matter of hours and support over 25 use cases on the network.
Wyre announced that it will act as a banking service provider for companies to interact with the Stellar network and use USDC stablecoin in a very short time.
Stellar announced its relationship with Wyre a month ago when it invested $ 5 million in the firm. At the time, the Stellar Development Foundation described Wyre as a natural fit and expressed optimism that the two would drive the Stellar ecosystem forward. SDF CEO Denelle Dixon joined the Wyre board as part of the deal. Now, Wyre revealed that Stellar is focused on expanding its capabilities beyond payments.
Wyre will soon integrate Stellar USDC. This will allow customers to transfer money between the world’s second-largest stablecoin and various local currencies. The first local market Wyre will target will be Mexico, which offers a USDC-Mexican peso payment method. The company relies on the Bitcoin or foreign exchange markets to serve the country with its largest market. After forming the USDC-Mexican peso corridor, Wyre will switch to other currencies such as the GBP, euro, Canadian dollar and Australian dollar.
In another positive announcement for the Stellar community, the Flare Network announced that it will integrate XLM as an F-Asset. The F-Asset protocol of the Flare network ensures that any cryptocurrency becomes a smart contract asset.
It will be the fourth F-Asset along with XLM, XRP, Litecoin (LTC) and Dogecoin (DOGE). When announcing the XLM integration, Flare claimed that it would bring the token to scalable smart contracts and serve as a reliable gateway to Stellar. “Decentralization is crucial to maximalism. Ecosystems must be combined, ”he added.
Finally, XLM received overwhelming support from Flare’s user community in a Twitter poll conducted last month. The company asked its users which digital asset to add later. Options were Bitcoin SV, Bitcoin Cash, or XLM. While 81.4% of 6,475 voted for XLM, BCH ranked second with 15.5%.