Stellar moves dollars cheaply and fast, but it is not EVM and it has no registry to hold an agent passport. Here is what crosses over today and what honestly does not.
Why Stellar at all
USDC and EURC are native on Stellar, issued by Circle. Fees are tiny and settlement is quick.
For agents paying across currencies, that combination is hard to beat.
Identity is the catch
ERC-8004 is an Ethereum standard, so it does not exist natively on Stellar. The agent still needs to prove who it is before anyone trusts it.
A fast payment rail with no identity is half a system.
Referenced, not re-anchored
The agent carries one ERC-8004 passport on an EVM chain. Stellar has no equivalent registry to re-anchor it in, and we are not going to invent one and call it a standard, so the passport is read from the chain that holds it and referenced from Stellar rather than copied onto it.
That is a real limit and worth saying plainly. SEP-10 would prove control of a Stellar account, which is not the same thing as proving the passport, and no Soroban identity registry exists to point at yet. A registry on Stellar is planned, and until it is deployed we will keep calling it planned.
What is on Stellar today
The money side, not the identity side. An on-chain spend policy is deployed on Stellar testnet: a vault that holds USDC for an agent and enforces a daily cap, a per-payment ceiling, a payee allowlist and a freeze switch on the ledger itself.
So an agent on Stellar can be bounded before it can be identified, which is the opposite order from what we expected and is fine. A cap that the ledger enforces is useful even against an agent nobody has vouched for.
One agent, many homes
The goal is still a single reputation that travels, whether the agent settles on Arc, Base, or Stellar.
Your track record should follow you, not reset at every border. Today it follows you as a reference across a chain boundary rather than as a native record on both sides, and that gap is the next piece of work rather than a detail to paper over.