Curve Finance launched StableSwap on Stellar mainnet on October 29, 2026, taking its stablecoin-trading system beyond Ethereum Virtual Machine-compatible networks for the first time. The native deployment gives users access to pools and swaps for supported assets, while Curve says institutional demand helped drive the expansion.
Key takeaways
Stellar is Curve’s first native non-EVM deployment.
StableSwap targets assets with closely matched prices.
The implementation runs on Stellar’s Soroban smart-contract platform.
FXSwap remains planned and requires a completed audit.
How Curve brought StableSwap to Stellar
Curve’s StableSwap implementation uses Soroban , Stellar’s own smart-contract platform , rather than an Ethereum-compatible execution layer. Curve said it rebuilt the protocol for Stellar while retaining its underlying pricing mathematics, with support from the Stellar Development Foundation.
The release supports permissionless pool creation , pool discovery, swaps and liquidity provision for compatible assets, Curve and the foundation said. Users can access the initial pools through a beta interface and connect supported wallets, including Freighter, to trade or deposit liquidity and earn trading fees .
Curve first introduced StableSwap on Ethereum in 2020 , then expanded across EVM-compatible networks. Its move to Stellar responds to demand for deeper liquidity in stablecoin and tokenized-asset markets, Curve said.
“And at the same time, the demand for Curve is there, and it comes from institutions,” Curve founder Michael Egorov said in a statement.
Stablecoin trading and financial applications
StableSwap is designed to exchange assets with nearly equal values, particularly dollar-pegged stablecoins and closely related tokenized instruments. It concentrates liquidity around their expected exchange rate, supporting larger trades with less slippage than conventional pools, provided the assets maintain their pegs.
Liquidity providers deposit eligible assets into pools, and the automated market-maker contract calculates exchange terms. Pool balances change as users trade.
Curve’s StableSwap pools on Stellar also offer potential infrastructure for lending applications. Curve said those applications could use the pools to sell collateral during liquidations or help borrowers close positions, but those uses require liquidity growth and integration by the applications.
Asset issuers can also use the pools to build markets for supported instruments. Stellar already hosts Franklin Templeton’s tokenized money market fund, while MoneyGram uses the network for money transfers. Its issuer controls include identity verification, asset freezes and clawbacks.
According to Denelle Dixon, CEO and executive director of the Stellar Development Foundation, stablecoins and tokenized assets must be able to move efficiently between one another in order to generate value. She said Curve’s arrival gives developers infrastructure to build those markets.
Curve said fees from its Stellar deployment will contribute to the Curve DAO under its existing fee arrangements.
Execution limits and the FXSwap rollout
FXSwap is not live on Stellar ; Curve plans to introduce it after completing its security audit. Unlike StableSwap, it supports assets whose relative prices fluctuate, including stablecoins pegged to different national currencies.
Rather than relying on a fixed peg, FXSwap pools liquidity based on current market exchange rates. Curve said development was nearly complete.
For the live StableSwap deployment, pool depth, trading volume relative to liquidity and realized slippage are measures of execution quality. The launch establishes that the infrastructure exists, not that substantial liquidity has already arrived.
Curve also plans improved analytics and additional routing capabilities for its Stellar interface. It said Stellar remains its only planned non-EVM expansion for the foreseeable future.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
