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Source: Circle (X) London-based financial technology firm Finastra has joined forces with Circle , the issuer of USDC stablecoin, to bring digital currency settlement into the mainstream banking system through Finastra’s Global PAYplus (GPP) payments platform. The move could reshape the way banks handle cross-border transactions by offering faster, cheaper, and more flexible settlement options. Expanding Payment Options for Banks Finastra supports over 8,000 clients worldwide, including nearly all of the world’s top banks. Its Global PAYplus system processes more than $5 trillion in daily international payments. By adding support for USDC settlement, banks using the platform can now complete payments in stablecoin while continuing to initiate transfers in traditional fiat currencies. Expanding the future of cross-border payments with @FinastraFS and @USDC. The collaboration will enable USDC settlement to Finastra’s established network of financial institutions t...

The chief executive of stablecoin issuer Circle (USDC) says that the firm is moving its headquarters to New York City. In a new thread on the social media platform X, Circle CEO Jeremy Allaire says that the company is moving to New York from Boston to immerse itself in the world of Wall Street as blockchain technology becomes more intertwined with the financial system. “As this technology explodes into the mainstream, and as Circle becomes a more and more important company and infrastructure for this new internet financial system, it became clear that we needed to plant our flag, both literally and figuratively, in the heart of Wall Street, in the most important economic center of the world, and in the great country of the USA.” Allaire says the firm is making the move to NY despite concerns that the US government is hostile toward the digital assets industry. He says that the US is on the brink of becoming the biggest player in the global crypto revol...

Circle, the global financial technology firm, has announced the launch of EURC on the Solana network. As the leading regulated dollar stablecoin issuer, Circle’s expansion of EURC onto Solana, now the fourth blockchain to support it natively, is poised to enhance utility in peer-to-peer transfers and European remittance corridors. EURC, a fiat-backed stablecoin , operates under a full-reserve model, ensuring a 1:1 redeemable value for the euro. This launch allows developers and users to engage with EURC and USDC on Solana (SOL), providing global money transfers and financial transaction options. 1/ The holiday season is nearly upon us and we have an early surprise…$EURC is now available on @solana’s ultra-fast, near-zero cost network! The time is now for 24/7 on-chain FX with global, instant settlement. Learn more https://t.co/hrCirklYGY — Circle (@circle) December 18, 2023 You might also like: Circle launches USDC and EURC faucets to support dev activity ...

Stablecoins from Circle and MakerDAO have been less stable than those from Tether and Binance in the last couple of years, states a new S&P Global report. Analysts at S&P Global have noted that while all dollar-pegged stablecoins are susceptible to fluctuations, certain ones, like Circle’s USD Coin (USDC) and MakerDAO’s Dai (DAI), have exhibited a greater tendency to depeg compared to others. A comprehensive study conducted in September by Dr. Cristina Polizu, Anoop Garg, and Miguel de la Mata analyzed the valuation and depegging trends of five prominent stablecoins: USDT, BUSD, Paxos (USDP), USDC, and DAI. You might also like: USDC market cap hits two-year low even after Coinbase stake The findings highlighted that USDC and DAI have experienced more frequent depegging incidents than their counterparts, USDT and BUSD, over the past two years. Notably, USDC’s value plummeted below $0.90 for 23 minutes, and DAI’s value dipped for 20 minutes i...

This could be great news for Circle as well since the USDC issuer was losing market share over the last year. In a blog post on Monday, August 21, Circle stated that its combined revenue with Coinase from the USDC coin “will continue to be shared based on the amount of USDC held on each of our platforms, and additionally we will now equally share in interest income generated from the broader distribution and usage of USDC ”. advertisement The news comes at a time when the regulatory developments around stablecoins are picking up. Last month, a key member of the US House of Representatives panel advanced a bill in order to regulate stablecoins. Both companies, Coinbase and Circle were co-founders of the Centre Consortium that governs the USD Coin stablecoin. In its blog post announcement, Coinbase said that they would be dissolving Centre. Coinbase stated that the Centre organization will no longer operate independently, and Circle will now take ov...

The stablecoin issuer launched a service and API that allows developers to create customized wallets for their users. USD Coin (USDC) issuer Circle has released a beta version of a multi-party computation wallet (MPC) service, according to an Aug. 8 announcement. The new service will allow developers of DeFi apps, Web3 video games, e-commerce services, and other blockchain applications to create customized wallet s specifically for their users. It will be available initially on Ethereum, Avalanche, and Polygon. Building crypto apps is still too hard. Plus, less than 0.5% of the 100 million developers worldwide are actively building crypto apps today. This needs to change. Our new wallet -as-a-service developer platform is a huge step in that regard. Check it out https://t.co/ku9LTz8Z97 — Patrick Hansen (@paddi_hansen) August 8, 2023 MPC wallet s are secured by splitting the user's private key into multiple shards and distributing them through a decentralized network. It’s a ...