Stellar is an open network where anyone can issue an asset. There are various USD tokens issued on Stellar by different companies and individuals. LOBSTR reviews assets listed in Featured and Curated assets lists but also allows users to add and manage any USD token issued on Stellar in their wallets.
The most popular and trusted USD token is the USD Coin (USDC) issued by Centre (centre.io).
USDC is a fully collateralized US Dollar digital currency, based on the open-source fiat stablecoin framework developed by Centre. You can find USD Coin (USDC) under the Featured assets list on the LOBSTR app or website.
This article will guide you through the process of depositing USDC to your Stellar account in order to hold and exchange it on the network.
There are several ways to transfer USD via USDC to the LOBSTR account.
If your exchange supports Stellar USDC asset (by centre.io), you can simply send the Stellar USDC token directly to your Stellar wallet (Stellar addresses start with a 'G').
Before sending the asset, establish a trustline to USDC on your Stellar account by following the steps from This Guide.
Memo is not required to receive funds in LOBSTR because LOBSTR provides unique addresses for all our users. If the service that you are using to send a transaction requires you to specify the memo - you can safely enter just 'Lobstr' there.
A partnership with Stellar Development Foundation and MoneyGram allows LOBSTR users to seamlessly cash in the USDC (USD Coin) without requiring a bank account or credit card.
With this new integration, you can walk into one of MoneyGram locations near you, deposit physical cash, and turn it into Stellar USDC, a fully reserved dollar digital currency.
Just use the 'Cash In with MoneyGram' option in the side menu of the LOBSTR apps to start the cash-in process.
Learn more about MoneyGram:
Ultra Stellar allows conversion of USDC on Ethereum to USDC on Stellar and vice versa in LOBSTR or directly via the USDC Chain Swap tool.
From the ‘Home’ screen on mobile apps or ‘Assets’ screen on the web, select USDC (centre.io) > tap ‘Deposit USDC’ > select ‘Ultra Stellar’ and follow the instructions.
You can purchase USD Coin (Stellar) directly in your wallet in LOBSTR using Visa, Mastercard, bank account, or Apple Pay through our partnership with the MoonPay payment service. Learn more
Use the 'Buy Crypto' option on the LOBSTR mobile apps or follow this link to the LOBSTR web.
You can purchase USDC through our partnership with Stripe*.
To top up your wallet balance, use the 'Buy Crypto' option on the LOBSTR web. Stripe accepts debit/credit cards and instant ACH transfers.
*Service available in the US only
Banxa allows users to purchase USDC by Centre (centre.io) using credit cards, Apple Pay, Google Pay, and bank transfers.
From the ‘Home’ screen on mobile apps or ‘Assets’ screen on the web, select USDC (centre.io) > tap 'Deposit USDC' > select 'Banxa' deposit partner.
If you hold the ERC-20 USDC token by Circle on your exchange and want to transfer it to the Stellar network, you can deposit this token in the form of yUSDC.
From the ‘Home’ screen on mobile apps or ‘Assets’ screen on the web > select yUSDC (issued by ultrastellar.com) > tap 'Deposit yUSDC' > follow the instructions on the screen:
Before depositing the asset, establish a trustline to yUSDC (issued by ultrastellar.com) on your Stellar account by following the steps from This Guide.
Learn more about yield-generating assets here.
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