Stellar Development Foundation invests in blockchain payments firm Wyre

The non-profit Stellar Development Foundation (SDF) has invested $5 million in blockchain payments company Wyre.

The investment, says the foundation, will bring Wyre into the Stellar ecosystem, adding a variety of payment APIs to fintech applications on the network.

The move will bring in on/off ramps for the Stellar USDC stablecoin in existing fiat pairs – USD, GBP, CAD, AUS and EUR.

Denelle Dixon, CEO, SDF, says: “Growing the network of Stellar anchors — stablecoin issuers and on/off ramps — is fundamental to how Stellar connects global financial systems with blockchain technology.

“Bringing Wyre’s industry-leading payment APIs to the Stellar ecosystem will empower businesses, especially anchors, to expand existing payment corridors and develop new ones.”