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Leveraging on-chain assets to support the ecosystem financially is a great way to showcase the value of Stellar. There are several projects building on Stellar. Thus, creating new pathways for expanding financial inclusion. Stellar are looking to leverage those pathways.
The on-chain assets will help the ecosystem along with the tools that they already have and will continue to add more to the toolbox. To that end, Stellar heard the growing demand from ecosystem partners where debt financing will be able to advance innovative projects, both new and existing, on Stellar.
Denelle Dixon expressed: We’ve just moved $150 million on-chain to support the growth and development of the Stellar network.
These on-chain assets will be deployed in support of our mandate with tools we have already been using and a new tool: tailored financing to help ecosystem companies when they need it most.
Think working capital loans to payment companies as an example. Funds will be based in Stellar USDC.
Having USDC at the ready is powerful. It’s a tool to swiftly remove roadblocks for fast-growing projects, and clear wider pathways to expand financial inclusion.
The financing based in Stellar USDC is great as it permits near-zero transaction costs and takes nearly 5 seconds to finalize a transaction.
It is possible to see how ecosystem companies will be already leveraging USDC on Stellar worldwide. By moving $150 million worth in USDC on-chain makes it possible for SDF to work with a pool of flexible capital can be deployed quickly to help these projects by tailored financing when they need it the most.
Denelle reinstated on how they are looking to further reinforce Stellar USDC as the “go-to” stablecoin for projects which make use of a digital dollar currency for global settlement.
The Stellar ecosystem are looking for new ways to meet their liquidity needs to further growth. Thus having USDC ready on-chain furthers the support requirements of these companies. Thus, removing roadblocks for the fast-growing projects like enabling cross-border payments and remittances on Stellar, which will ultimately drive toward SDF’s goal of expanding financial inclusion and access.
SDF will continually evaluate projects and their potential value to the Stellar network, and based on that funding will be available for different ecosystem needs. This will include working capital loans to payment companies and debt financing for lending businesses.
Community Response: This is awesome, Denelle, but whatever you do, don’t accept any invitation from Gary to “come see” him. You’ll regret it.
That is great news. With pendulum_chain building the DeFi infrastructure, Stellar will be top-tier network for the next generation of finance.
Pendulum does the job of connecting Fiat to DeFi.
