coinfomania.com
Liquid Group Inc., a leading crypto exchange in Asia, today announced a closed partnership deal with Stellar Development Foundation (SDF) to enable multi-chain support for named cryptocurrencies.
In a press release shared with Coinfomania, Liquid revealed that the collaboration will potentially increase the exchange’s ability to resolve matters revolving around providing better customer service, and the new surge in blockchain fees.
With USDC multi-chain support, the exchange will provide users with the opportunity to withdraw USDC at no cost. Thereby allowing Liquid customers to use USDC to the fullest.
More than that, Liquid customers who choose to withdraw USDC on the Stellar network will enjoy an average discount of $12-15 for every transaction. This is unlike the rise in transaction fees peculiar to affected networks.
Interestingly, the Stellar network will run and complete transactions in only a matter of seconds, this will help maintain better asset liquidity.
The partnership will name Liquid as the first crypto exchange to add support for Stellar USDC. This move will present a new turn for users to access cryptocurrencies at will.
A spokesperson for LIquid Seth Melamed said:
“Our objective is in our name: Liquid. Stellar USDC gives our customers a real Liquid advantage over other blockchain protocols, reducing blockchain transaction cost and confirmation time.
Liquid also expressed the intention to bring on board more Stellar-based stablecoins to run on the Liquid platform. This means that there will be additional global currencies running on the Liquid Platform in the future.
Earlier in July, the USDC was seen saluting $26 billion in global market circulation. The latest deal will give Liquid the edge and serve as a pattern for other crypto exchanges looking to trade or save dollar assets across the globe.
Stellar, for its part, hopes that the partnership is a work in progress towards achieving its goal of providing equal access to the worldwide financial market.
Denelle Dixon, CEO at SDF commented:
“It’s great to see Liquid bringing the speed and cost advantages of the Stellar network to its customers. This offering provides valuable interoperability to USDC users and will bring meaningful volume and liquidity to the Stellar ecosystem.”
The SDF seems to be all out to leverage equitable access to financial opportunities for crypto organizations and financial institutions. Coinfomania recently reported that the SDF is joining forces with Ukrainian banks to create a stable ecosystem for virtual assets in newer regions.