Kinesis has introduced enhanced USDC (USDC) deposits on the platform – via the Stellar network.
Through the Stellar Network, Kinesis offers users faster USDC transactions with lower fees, presenting a superior alternative to USDC transfers on the Ethereum (ERC-20) blockchain.
An integration requested from the Kinesis community, Stellar enables users to enjoy more efficient USDC deposits and withdrawals, at a lower cost.
USDC on Stellar introduces a cost-effective, instant on-ramping mechanism for Kinesis users across the globe.
Why deposit USDC?
USDC – a digital asset pegged to the value of one US dollar – is one of the most popular digital assets for depositing and withdrawing funds, with a market cap of $32bn.
Users can easily purchase USDC via an external platform and transfer to the Kinesis Monetary System at a low cost – ready to trade into Kinesis gold (KAU) and silver (KAG) in seconds.
How Stellar benefits Kinesis users
As demonstrated in the table below, Stellar settles USDC transfers with significantly enhanced efficiency and value, compared with the existing Ethereum blockchain.
The average fee costs of Stellar USDC transactions represent a substantial saving, with near-instant settlement times. Additionally, users can also benefit from lower minimum withdrawal amounts.
The Stellar network is widely recognised for its effectiveness in handling large-scale cross-border digital assets transactions. It was for this reason that Kinesis chose the Stellar network for our very own native currencies, KAU and KAG.
Please see our guide on how to deposit digital assets, including USDC – here.
USDC on the Kinesis platform
Kinesis users can trade USDC against Kinesis’ native gold and silver-backed digital currencies, KAU and KAG, the US dollar, as well as leading cryptocurrencies – BTC and ETH.
The upgrade to USDC Stellar provides investors and traders with another option to fund their Kinesis accounts and start trading gold, silver and digital assets.
Broadening the range of deposit methods gives investors from all backgrounds easier access to the unique benefits of the Kinesis Monetary System.
The enhanced deposit option delivers greater access to the stable value of gold and silver for Kinesis users across the globe.
