Tag Archives: circle

USDC issuer Circle announced plans to expand native support of its Euro-backed stablecoin – Euro Coin (EUROC) –  to the Solana blockchain in the first half of 2023. Sheraz Shere, Head of Payments at Solana Labs, said the availability of EUROC on Solana will set the scene for new use cases for instant foreign exchange, offering optionality for traders with a new base currency while enabling lending and borrowing with the stablecoin. FTX to Support Euro Coin’s Deposits and...

The issuer of the stablecoin USDC – Circle – announced investing in the Circle Reserve Fund to manage a portion of the USDC reserves. The SEC-registered fund was set up by BlackRock, and its portfolio will consist of cash and US Treasury funds. Circle Reserve Fund The government money market fund was created in partnership with the asset manager. According to the official blog post, it will only be available to Circle. The process of moving the reserves for its USDC...

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The issuer of the stablecoin USDC – Circle – and the blockchain infrastructure platform – Paxos – received licenses from the Monetary Authority of Singapore (MAS) to offer services in the city-state. The country’s top financial regulator has greenlighted numerous digital asset firms over the past several months, including CryptoCom, Genesis, and Sparrow. Circle’s Authorization The US-based stablecoin issuer obtained in-Principle Approval as a Major Payments Institution...

Guido Cannetti – an Argentinian mixed martial artist who competes in the UFC – partnered with the crypto-focused payment company Bitwage to become its ambassador. In addition, he will start receiving all his earnings in the stablecoin USDC instead of fiat currency. ‘USDC is Safer’ In a recent announcement, Bitwage said it is “thrilled” to collaborate with Cannetti. Using the platform, the athlete, known as “El Ninja,” will get 100% of his salary in USDC via the Stellar...

TBD – a Bitcoin-focused wing of Jack Dorsey’s payments company Block – has partnered with Circle to help expand on and off ramps between the worlds of crypto and fiat.  The teams intend to bolster some of crypto’s premiere real-world use cases, from cross-border remittances to stablecoin self-custody.  Expanding Web 5 According to TBD’s announcement, the team will begin supporting Circle’s stablecoin, USDC, on a number of applications to make it easier to build on the tbDEX...

Jeremy Allaire – CEO and co-founder of Circle – isn’t sweating over Binance’s latest decision to stop supporting trades for USD Coin (USDC).  In a thread on Tuesday, Allaire broke down why he thinks the development is not only good for Binance but ultimately a boon to USDC utility and adoption. Binance Converges Around BUSD On Monday, Binance announced that all of its customers’ existing funds held in USDC, USDP, and TUSD would be auto-converted into Binance USD (BUSD) on...

Compound Labs has announced the first smart contract deployments for Compound III, which will create a USDC market on Ethereum.  The contracts await activation by Compound governance but are now open to review by the community.  According to the latest update from Compound’s protocol development log, the deployment brings Compound III “just a governance proposal away from being live.” One of the smart contracts involved is a ‘configurator’, which will allow Compound to set...

MakerDAO co-founder Rune Christensen recently proposed removing all USDC from the DAI stablecoin’s peg-stability module. He suggested that the USDC within, worth $3.5 billion, could be used to buy ETH instead.  Yet despite what such a conversion could do to boost ETH’s price, Vitalik Buterin said it was a “terrible idea.” Removing Exposure to USDC In the governance channel of MakerDAO’s official Discord, Rune expressed concerns over the US Treasury Department’s latest...

Panel Discussion ”The Euro Coin (EUROC) by Circle: The First Big Euro Stablecoin?”, Digital Assets: Seminarreihe zu Blockchain und Digitalisierung für Führungskräfte, Private Capital in Blockchain Conference 2022. Since the rise of stablecoins, the sector is firmly in the hands of US dollar-denominated stablecoins, accounting for over 95% of the total market. Above all, players like Circle, Tether and Paxos dominate the stablecoin market, all of...