Circle Introduces USDC to US Dollar Auto-Conversion
Circle has figured out how to accelerate the adoption of USDC among businesses
Users will be able to quickly convert stablecoin to dollar
New functionality from Circle has already been added by FTX crypto exchange
International consortium of news organizations developing transparency standards.
USDC stablecoin issuer adds automated clearing support for converting digital currency to US dollar
USDC Issuer Circle has added the ability to auto-convert stablecoin to US dollar. The company announced this on its official website..
Join our telegram channel to keep abreast of the main trends in the crypto market.
With the help of an automated clearing system, businesses will be able to automatically convert payments from USDC to USD and vice versa. You can connect a new function through the API from Circle.
The function is expected to be suitable for those who do not want to make card payments due to high fees.
Dollar to the masses
The first to introduce the new functionality from Circle was FTX cryptocurrency exchange. FTX Founder Sam Bankman-Fried Says Circle’s API Will Also Accelerate USDC Transactions Between Ethereum and Solana Blockchains.
Learn how to trade in the cryptocurrency market with BeInCrypto partner, StormGain cryptocurrency exchange
Circle has also partnered with fintech startup Plaid for a hassle-free conversion to physical money..
“The process prevents errors such as mis-entering bank accounts … and increases security for users,” comments the Circle partnership..
With Plaid, users can directly connect to their bank accounts to convert USD to USDC and vice versa.
Digitalization of services
Jeremy Aller, CEO of Circle, has previously announced the imminent rise in popularity of payments in stablecoins. Then Aller expressed the hope that in the face of global shocks and the collapse of markets, interest in digital dollars could grow significantly.
The popularity of such currencies is already confirmed by the growth in market capitalization. In 2020, USDC’s market capitalization skyrocketed 655% from $ 518 million to $ 3.9 billion.
However, stablecoins are popular for more than just payments for goods or buying cryptocurrencies. As Coinbase found out, stablecoins – literally translated from English “stable” coins – continue to gain popularity in the digital asset market. With … More is increasingly used as a tool for venture capital investment in startups.
What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
More than $ 100 million invested in the European version of ETP for bitcoin CONTENTS The volume of assets under management of ETP for bitcoin exceeded $ 100 million…
Robinhood Attracts 13 Million Users & $ 8.3 Billion CONTENTS Robinhood Market Values To $ 8.43 Billion By Robinhood App…
The USA is late in creating its own CBDC-currency CONTENT States are at risk of lagging behind other countries in the development of digital currencies Developing countries have more…
The European Commissioner hopes to protect sovereignty with a digital euro CONTENTS The European Commissioner urged to prevent the emergence of a non-European digital currency…
Phemex has just added 7 new trading pairs CONTENTS Seven new trading pairs have appeared on the Phemex exchange Phemex also offers 9 markets…