Curve Finance expands to Stellar with first non-EVM deployment

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Curve launches on Stellar

Highlights

Curve Finance launches its first non-EVM deployment by integrating StableSwap on Stellar mainnet, expanding institutional access and Stablecoin liquidity.
Curve plans to introduce FXSwap to Stellar after an audit, broadening support from stable asset swaps to include volatile crypto pairs and real-world asset pairs.
Curve's protocol records $1.27 billion in total value locked, with Stellar pools expected to boost DeFi applications and tokenized asset markets with deeper liquidity.

Stellar rollout broadens Curve's chain strategy

As reported by The Block, citing Curve Finance and the Stellar Development Foundation, the launch marks Curve's first native deployment outside the EVM ecosystem and brings StableSwap to Stellar's mainnet. Users can create pools without permission, discover existing pools, swap assets and provide liquidity through the new integration.

StableSwap is built for assets with closely linked prices, including stablecoins pegged to the same currency, wrapped bitcoin tokens and synthetic crypto assets. Curve founder Michael Egorov said in a statement that the company has been exploring expansion beyond EVM chains where demand exists, adding that Stellar is a good fit and that interest is coming from institutions.

Curve also says it plans to bring FXSwap to Stellar after its audit is completed, although it does not provide a timeline. Unlike StableSwap, FXSwap is designed for assets whose prices move relative to one another, including volatile crypto pairs as well as lower-volatility foreign exchange and real-world asset pairs.

Potential uses in tokenized assets and DeFi

On Stellar, Curve's pools could support lending and other financial applications by helping sell collateral during liquidations or allowing users to exit positions, although that would depend on deeper liquidity and app-level integrations. Asset issuers could also use the pools to build markets for supported assets on the network.

Stellar already supports stablecoins and tokenized assets, including Franklin Templeton's tokenized money market fund, while MoneyGram uses the network for transfers. Denelle Dixon, chief executive and executive director of the Stellar Development Foundation, says in a statement that stablecoins and tokenized assets only deliver real value when users can move between them efficiently, and that Curve's arrival gives developers infrastructure to build those markets.

Curve, launched in 2020, has expanded over time from crypto trading into lending and its crvUSD stablecoin. The protocol currently has about $1.27 billion in total value locked, according to DeFiLlama.

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