From AirUSD to USDC: Enhancing Your Airtm Experience
August, 24, 2023
2 min. reading
At Airtm, we are committed to providing you with the best and most user-friendly platform for your financial needs. As part of our ongoing efforts to improve, we are excited to announce a significant update that will enhance your experience with us: AirUSD is now transitioning to USDC.
Beginning on August 15th, you may have noticed AirUSD has been replaced by USDC as the digital currency for all transactions at Airtm. This transition aims to offer you a more globally accessible experience when using our services and is part of our ongoing commitment to enhancing the usability of our platform.
To understand a little more about this new process, here are some key points:
What is AirUSD? Since 2021, AirUSD has served as a digital representation of USDC, with each AirUSD equivalent to 1 USDC on Stellar in a 1:1 ratio.
What is USDC? USDC, commonly referred to as a stablecoin, is a fully reserved digital dollar issued by Circle that is available 24/7. Circle issues USDC on decentralized ledgers, 9 different blockchains, such as Ethereum or the fast and the low-cost Stellar Network – the very network currently employed by Airtm. Billions of USDC change hands every day and every digital dollar of USDC is always redeemable 1:1 for US dollars.
Learn more about USDC here.
About Stellar: The Stellar blockchain is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visit stellar.org.
Benefits of USDC: By leveraging USDC, we are able to provide Global access, always-on 24/7/365, near-instant settlement, near zero fees, interoperable and programmable. USDC on Stellar is specifically built for global payments. By reducing friction and cost, the Stellar network has become one of the most efficient blockchain networks for sending payments.
Automatic account balance transition: Rest assured that this transition will be smooth and seamless. The balance of your Airtm account will be automatically represented as an equivalent amount in USDC at a 1:1 ratio. You do not need to take any action; our system will handle the update.
Our commitment to you: The USDC transition aims to offer you a more globally accessible experience when using our services and is part of our ongoing commitment to enhancing the usability of our platform. Over the past two years, USDC usage has continued to evolve (currently there is around $26 billion USDC in circulation) and we believe now it’s time to become one with the USDC ecosystem and its global network.
Thank you for choosing Airtm as your trusted financial partner. This transition from AirUSD to USDC is a significant step forward, and we are confident that it will further enhance your Airtm experience. We are excited to continue on this journey with you, offering top-notch services and innovative solutions for all your financial needs.