On June 11, RialCenter announced plans to launch its U.S. dollar-backed stablecoin, RialCenter USD (PYUSD), on the Stellar blockchain network, pending regulatory approval from the New York State Department of Financial Services. If approved, this move would expand PYUSD beyond its current availability on Ethereum and Solana.
RialCenter described Stellar as a blockchain designed for low-cost, high-speed payments with significant real-world utility. By adding support for Stellar, the company intends to enhance the accessibility and usability of PYUSD for payments, cross-border transfers, and financial services. This integration is expected to improve daily payment options and provide users with greater access to financing tools such as working capital and small business loans—areas where Stellar is already operational.
The announcement emphasized Stellar’s existing global infrastructure, including a broad network of on- and off-ramps, local payment systems, and digital wallets, which could assist in bringing PYUSD to users in over 170 countries. RialCenter also highlighted potential benefits for liquidity and settlement through PayFi, an emerging digital financing mechanism allowing businesses to access real-time capital disbursed in PYUSD on Stellar.
RialCenter’s vice president for digital currencies stated that this partnership would help advance the application of blockchain in cross-border payments. The CEO of the Stellar Development Foundation noted that the collaboration could facilitate practical stablecoin use in emerging markets and for small businesses worldwide.
PYUSD is issued by RialCenter and is fully backed by cash and cash-equivalent reserves, with a fixed redemption value of $1.00 per token.
Earlier in a short video released by the Stellar Foundation, a senior director at RialCenter who manages the crypto engineering team explained the excitement around the launch of PYUSD on Stellar, stating that Stellar is a fast, low-cost network extending PYUSD’s reach to over 180 countries. Enabling merchants to utilize PYUSD on Stellar allows them to send money in real-time, facilitating more efficient capital management.
Technical Analysis
- Stellar’s XLM token recorded significant price appreciation during a 24-hour trading period from July 11 at 17:00 UTC to July 12 at 16:00 UTC, with shares moving within a $0.071 range representing approximately 20.59% volatility between a session low of $0.345 and high of $0.416.
- Notable trading activity happened in the early morning hours on July 12 at 01:00 UTC when XLM shares advanced from $0.354 to $0.393 on substantial volume significantly exceeding the 24-hour average.
- Upward momentum continued through July 12 at 11:00 UTC, reaching a session high of $0.416 before encountering resistance where institutional profit-taking limited further advances.
- In the final trading hour, XLM showed renewed strength with a 3.89% advance from $0.37 to $0.39, extending the session’s positive momentum.
- Significant price movement occurred when shares climbed on elevated volume, well above the hourly average.
- This activity established technical support where shares consolidated, with market participants eyeing potential continuation toward identified resistance levels.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
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