what is circle stablecoin

In the twelve-month period from January 2019 to January 2020, the global stablecoins market more than doubled in value from $2.5 billion to over $5 billion in total market capitalization. RT @KaikoData: Liquidity for stablecoin markets is more important than ever. The protocol will cut its $500 million Gemini stablecoin position by about $390 million. Watch CNBC Crypto World's full interview with Circle CEO Jeremy Allaire on the company's new valuation, first revealed their plans to merge in July, BlackRock files to launch spot bitcoin ETF, and Binance to exit the Netherlands: CNBC Crypto World, Portfolio manager Jeffrey Park discusses crypto from digital asset investment conference, Cryptocurrencies climb to end the week as investors digest BlackRock's bitcoin ETF plans. [32] Circle plans to peg the conversion rate to the US Dollar. In November, the Biden administration in urged Congress to regulate stablecoins to ensure they don't pose a systemic risk. Circle is transforming the way money moves by making it more accessible, inclusive, and efficient increasing economic opportunity and prosperity around the globe. "[7] In June 2016, Circle raised US$60 million in Series D funding backed by new and existing partners. It was founded by Jeremy Allaire and Sean Neville in October 2013. For example, if you predicted that Tom Brady would win Super Bowl LV, your tokens would have been worth $1 once time ran out, and everyone who bet against Tom Brady would own tokens worth $0. For example, if an adventurous FinTech company wanted to use a brand new DeFi protocol that was promising 30% returns on their USDC, and they needed to insure against losing their principal investment, they could use a peer-to-peer risk exchange like Saffron Finance to earn a lower return on their capital, say 20%, and be paid back by the risk takers if funds were lost due to a hack. digital asset is not a guide to future performance, nor is it a reliable indicator of [1][2] USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. He has experience developing tech-forward products and software that advanced mobile devices, streaming video, AI, and Augmented Reality at companies, including Meta, Google, YouTube, and Microsoft. Built as a true bearer asset, USDC is backed by a reserve held in short-duration U.S. Treasuries and cash deposits within the U.S. banking system. Jeremy is responsible for strategy, vision and operating execution at Circle. The first decentralized finance applications were decentralized exchanges (DEX) on the Ethereum network. Below, you can view the growth of the three largest stablecoins by market capitalization Tether USD, USD Coin, and Paxos Standard over the last four years. Financial services companies can use digital dollar stablecoins for secure, low-cost, borderless international payments. in digital assets could result in significant losses and may not be suitable for some Hence, its total revenues are running at a yearly rate of roughly $7 billion to $8 billion. Mandeep has played senior leadership roles driving global compliance and enterprise risk at financial services/fintech companies such as PayPal, LendUp, State Street, and most recently, was the Chief Compliance Officer/Head of Enterprise Risk at Novi Facebooks digital wallet business. [43].mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:solid #aaa 1px;padding:0.1em;background:#f9f9f9}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}, In November 2021 Circle led a US$13.5 million funding round in crowdfunding platform Crowdcube. Digital assets do not typically have legal tender As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. The stablecoin issuer Circle Internet Financial on Thursday rolled out its native USDC on Arbitrum, the leading layer 2 scaling solution for the Ethereum blockchain. Unsurprisingly, digital dollar stablecoins are becoming increasingly important assets in the DeFi lending markets. Transacting WebCircle is an official Money Transmitter, which makes the company an open financial book. The vast majority of DeFi protocols operate on the Ethereum blockchain, the worlds leading smart contract platform. It was founded by Jeremy Allaire and Sean Neville in October 2013. USDC delivers money in a near-instant, at near-zero cost, and into the hands of more Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. USD Coin (USDC) is a stablecoin launched by the US crypto exchange, Coinbase, together with trading desk and OTC Circle. Whats really happening, though, is that big institutional investors with cash to spare are parking that with Wall Street dealers that need funding. [42], In October 2018 SeedInvest announced they entered an agreement to sell to Circle, subject to FINRA (Financial Industry Regulatory Authority) approval. US Dollar Coin, or USDC, is a fully collateralized fiat-backed stablecoin developed by Centre and issued and managed in collaboration between Circle and Coinbase. Circle began as a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. Today, stablecoins are actively being integrated into more and more ecommerce solutions and applications within the traditional financial industry. The loan amount is based on the riskiness of the underlying asset and its total value. Cryptocurrencies. As these tokens can be traded in the secondary market, an incentive structure is created where investors can earn substantial returns in the form of protocol tokens for contributing as much capital to a protocol as possible. ", "Circle and British Pound Sterling, Social Payment App Updates, Limitless Spends and Withdrawals", "Circle raises $110 million, plans to create dollar-pegged cryptocurrency", "Dublin-listed Circle gets 54m for China expansion", "Circle removes ability to buy and sell Bitcoin as it doubles down on mobile payments", "Dublin payments firm debuts group transfers - Independent.ie", "Circle reveals group payments and fast, free cash transfers to US accounts", "This Big Cryptocurrency Acquisition Could Create a Wall Street-Style Financial Giant", "Circle acquires cryptocurrency exchange Poloniex", "Circle to Buy SeedInvest to Help Startups Raise Cash With Crypto", "Crowdcube raises 10m to power European expansion", "Circle Singapore Gets Digital Payment Token License From MAS", "The Financial Bubble Era Comes Full Circle", https://en.wikipedia.org/w/index.php?title=Circle_(company)&oldid=1159849645, Pages containing links to subscription-only content, Short description is different from Wikidata, Articles with a promotional tone from June 2021, Articles lacking reliable references from August 2022, Articles with multiple maintenance issues, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 12 June 2023, at 22:44. Jeremy brings 25 years of experience in corporate finance and financial services, as an strategic advisor, operator and finance officer, with previously held senior leadership rolesat iStar and Safehold,McKinsey, PwC and Citigroup, as CFO, management consultant and finance officer. Circle Internet Financial, LLC is licensed as a Money Transmitter by the New York State Department of Financial Institutions and to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Circle is doing this as U.S. lawmakers are locked in discussions with President Joe Bidens administration over raising the governments ability to issue new debt, also known as the debt ceiling. Digital asset markets and exchanges are not regulated with the same controls Circle's two-month Texas customers click here for information about filing complaints. The majority of its stablecoin collateral is held in short-term U.S. government securities. Your business starting place for accessing, storing and managing USDC and Euro Coin. Circle's stablecoin, USDC, has increased in reach and popularity over the past year. To do this, Synthetix creates a basket of stablecoins to represent the synthetic assets price, and then adds or removes stablecoins programmatically to manage the price. In the future, we can expect that to change. Digital assets do not typically have legal tender Follow @crypto Twitter for the latest news. She brings decades of experience leading companies revolutionizing industries ranging from financial services to nonprofit fundraising to media as COO of Evertrue, SVP at Brightcove, and SVP at News Corporation and BSkyB. Work with a suite of Web3 developer tools designed to make building on blockchain easy. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Circle provides industry leading custody and security solutions for stablecoins and digital currency. In exchange for a monthly fee, individuals in traditional insurance markets receive coverage when they experience a claimable event like personal injury (health), accident (car), or theft (home). to an evolving regulatory environment. Leveraging his prior leadership roles at high-tech growth companies such as AOL, DoubleClick, SiriusXM, Etsy, Transfix and others, he leads the Circle Talent Team whose mission is to attract, nurture, and retain the best values-aligned talent in the world. USDC enables programmatic access to capital markets for always-on digital asset trading, FX, borrowing, lending, and more. Circle Internet Financial, the issuer of the USD Coin Euro Coin is a regulated, euro-backed stablecoin issued under the same full-reserve model and built on The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements to the portfolio as of May 16, according to the funds website. [8] On May 15, 2018, Circle raised US$110 million in venture capital to create USD Coin, an Ethereum coin they claim is backed by USD. [28], In the same month, the company announced that it has chosen Paris to develop its commercial activities in Europe. Serves as board member of public company bank GreenDot. The average retail investor is yet to enter the DeFi market as the knowledge barriers are still quite high. Tech-savvy banks, fintech companies, and financial application providers are adding stablecoins as a new internet-native rail for critical business use cases and seizing growing opportunities in new market segments. Learn how Circle helps businesses prepare for this shift. Yearn vaults optimize your investments returns by programmatically moving your capital into the best yield farming pools, and by sharing costs across all vault participants users save on gas fees, and earn passive income without needing to constantly follow the market. Currently serving as Chair, Audit Committee and member of other standing committees of the board of directors at Goldman Sachs and InBev. Start running your business with USDC. Founding managing partner of General Catalyst Partners. WebTop Stablecoin Tokens by Market Capitalization. Global stablecoins will, therefore, also become multi-chain digital currencies. It is designed to be pegged to the USD 1:1. To provide price Stablecoin USD Coin (USDC) lost its dollar peg and slumped to an all-time low on Saturday after Circle, the US firm behind the coin, revealed some of the reserves Co-founder and Board Director of Circle and previously its President and CTO, Sean has decades of experience creating global products and platforms, apps and games, languages and tools, standards and technical infrastructure. in digital assets could result in significant losses and may not be suitable for some Create a next generation Web3 app with blockchain APIs. USDC is issued by regulated financial institutions and redeemable on a 1:1 basis for US dollars. A Division of NBCUniversal. Global stablecoins have witnessed an aggressive surge in demand in the past six months. Harness the power and flexibility of USDC. Jeremy brings 25 years of experience in corporate finance and financial services, as an strategic advisor, operator and finance officer, with previously held senior leadership roles. 2023 CNBC LLC. How about if the Olympics will be canceled because of COVID-19? The easiest, free way for global businesses to realize the power of USDC. USDC allows us to offer them that; and with speed, reliability and transparency.. WebUSDC is a stablecoin created by the US-based company Circle. Liquidity for stablecoin markets is more important than ever. Realize the power of real-time access to on/off-ramps for instant liquidity. Sherice brings over 25 years of experience helping cutting edge brands innovate and engage with customers as a marketing executive at Meta, Google and Nickelodeon. Data is a real-time snapshot *Data is delayed at least 15 minutes. Maryland customers click here for information about filing complaints. According to DeFi Prime, there are currently over 200 DeFi applications on Ethereum, ranging from decentralized exchanges and lending protocols to trustless derivatives trading platforms and yield-generating liquidity pools. Global currency volatility relative to the US dollar has increased since the start of the year, driving demand for the greenback. McKinsey, PwC and Citigroup, as CFO, management consultant and finance officer. Most centralized crypto services, meaning where the company custodies the private keys of its customers, will start to resemble crypto banks who offer a variety of financial services built on crypto, however, still with an intermediary providing services on top of decentralized protocols. DeFi insurance is like regular insurance, except DeFi insurance protocols like Nexus Mutual covers you against the loss of funds from events like bugs or exploits, and simultaneously rewards the community for assessing risks and claims. Get near-instant access to USDC and Euro Coin, straight from the source. status and are not covered by deposit protection insurance. Placing funds into a digital dollar stablecoin provides individuals and companies with the opportunity to use dollars as a store of value without having to worry about losses from adverse currency fluctuations. Liquidity mining refers to providing liquidity to DeFi protocols such as decentralized exchanges in return for newly minted protocol tokens. An automated market maker (AMM) is a type of decentralized exchange (DEX) that uses a mathematical formula like the Constant Function curve (x*y = k) to price assets. [33][10] Britain's Financial Conduct Authority granted Circle an electronic money license in April 2016, expanding the use of Circle's services to the United Kingdom and broadening Circle's relationship with UK bank Barclays. [12][13][14] In April 2016, the British government approved the first virtual currency licensure to Circle. Euro Coin, or $EUROC, is a euro-backed stablecoin thats accessible globally on #Ethereum & #Avalanche . Circle may be twice as expensive for shareholders of Concord, the SPAC planning to take it public, but Allaire said he sees it as a testament to what his company is building. What financial advisors need to know about crypto. Cryptocurrencies are usually characterized by wild price swings and extreme volatility. Circle CEO Jeremy Allaire is set to testify before the US House Financial Services Committee today, urging lawmakers to prioritize the primacy of the US dollar and pass essential stablecoin legislation. News and analysis for the professional investor. Additional disclosures can be found on the Legal and Privacy page. Circle, the issuer of the USDC stablecoin, is set to go public in a merger with special purpose acquisition company Concord Acquisition Corp. Allaire called the stablecoin bill a crucial piece of legislation that should be the first step in creating a regulatory framework that builds the conditions for a vibrant and safe digital assets market, but added that it will also have significant ramifications that go far beyond the digital assets market to the global role of the US dollar. Crypto Circle USDC Stablecoin Redemptions Rise to About $6 Billion USDC redemptions continue to far outpace the coins issuance Curve exchange data suggests Circle provides a one-stop-shop for banks and fintech startups that want to leverage global stablecoins to process internet-native payments and enhance their product suite. Instead, they can trade the future contract indefinitely. Elisabeth leads global Revenue and Marketing, overseeing the complete go-to-market experience, and runs global business operations, including Talent. DEXes are extremely popular. Circle removes the complexity, manages the risks, and accelerates the speed to market for financial services companies and banks that want to implement stablecoins into their product offerings. Stablecoins operate on a distributed blockchain network that enables anyone with an internet connection to send value across the globe within minutes. Euro Coin, or $EUROC, is a euro-backed stablecoin thats accessible globally on #Ethereum & #Avalanche . Our diverse leadership teams believe in a policy-first approach for financial technology companies, which holds Circle to a higher standard of operation and helps build long-term, sustainable growth. Both USDT and USDC are pegged to the US dollar, and they're two of the most popular stablecoinsbut they're far from being the same thing. Transacting In the summer of 2020, Ethereum saw an eruption of decentralized finance protocols, which attracted massive amounts of attention and money. or customer protections available with other forms of financial products and are subject Probing the intersection of crypto and government. Sage D. Young is a tech protocol reporter at CoinDesk. Seamlessly source USDC liquidity and manage treasury flows to transact and custody USDC, with flows that can map to any existing fintech and bank treasury operations. Developers can leverage USDC as a core building block that powers applications with anytime access to near-instant payments, trading, and globally inclusive financial services. So you have access to stable money that you can use on Ethereum. Earlier this week New Jersey Rep. Josh Gottheimer unveiled an early draft of legislation aimed at placing definitions around stablecoins. Overnight on Wall Street is daytime in Asia. Exact costs depend on multiple factors such as the layer 1 blockchain used for settlement. Market Cap $128,577,742,110. Dante brings decades of experience working on complex global financial and risk issues, and most recently served as Executive Vice President at Diem Association, spearheading engagement and communications with government and financial industry leaders around the world on the issues and opportunities presented by stablecoins and digital currency. A smart contract is an irreversible, self-executing agreement that is written in computer code, and executed on an open-source, permissionless, decentralized blockchain. Historically, providing stablecoins as a payment rail has required companies to secure digital assets, have access to liquid on and off-ramps for fiat currency conversion, provide crypto custodianship, and run blockchain nodes and wallet infrastructure. Store funds securely and grow your business on-chain. A Circle account simplifies private key management and digital asset treasury operations, improving security and efficiency for funds flows. [3] in 2023, the company received a Major Payment Institution license from the Monetary Authority of Singapore. WebUSD Coin ( USDC) is a digital stablecoin pegged to the United States dollar. By being transparent. A decentralized exchange, or DEX, leverages smart contracts to allow investors to swap one token for another. The agreement is multifaceted, including plans for a Circle Companies that regularly process business-to-business payments can use digital dollar payment to reduce costs and payment settlement times. Texas customers click here for information about filing complaints. For institutional investors looking to enter crypto capital markets they need to weigh risk and reward more carefully than retail investors. News and analysis for the professional investor. (Getty Images) As money evolves, we think its important for Visas network and solutions to evolve with it to ensure that new forms of money can be transacted in a secure and convenient manner., This is a great example of how digital assets can be a force for good, delivering humanitarian assistance to the most vulnerable in need with real-time speed and accountability of usage of funds., USDC on Solana facilitates instant, global, sustainable payment rails for everyone, which makes it simple for developers looking to make their next big idea come to life., Millions of people across Latin America and Africa depend on Airtm to access earning opportunities paid in digital dollars, so that they can bring stable money home. 0.12%. By working closely with regulators. Trading Volume $23,361,287,828. Today, @circle's #USDC is the most liquid on centralized exchanges, with ~$38mn bids preventing a .1% price deviation. He holds BTC and ETH. The biggest crypto news and ideas of the day. And by partnering with leading U.S. financial institutions like BNY Mellon, which is the primary custodian for USDC reserves, and BlackRock. Markets never sleep, and neither does Bloomberg. By offering digital dollar stablecoin payments, businesses involved in trade finance transactions can have an unprecedented level of transparency and traceability. Beware, US and India Need to Deal With Their Trust Issues, US-China Talks Look More Like a Trap for Biden, Final Fantasy XVI Shows Off Square Enixs Skill at Reinvention. These three dollar-backed stablecoins account for over 90% of the stablecoin market. Instead of having to wait days for a cross-border payment to settle, stablecoins can be used to make secure global payments that settle within minutes and cost only a fraction of the price of a traditional money transfer. Yield farming refers to placing crypto assets into DeFi protocols to generate the highest returns possible. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. For more information, visit our, To start using USDC as a bank or FinTech company, open a. The three most impactful drivers we have identified are: The unfolding global economic crisis is resulting in growing counterparty risk as the stability of the financial system is being tested, and corporate bankruptcies are on the rise. Investors looking for more yield than traditional fixed-interest investments such as savings accounts, money market funds, or bonds can digitize their funds to earn above-average yields in the DeFi market. Additionally, digital dollar stablecoins enable financial services companies to offer a range of new solutions to its business customers. Similar to $USDC, Euro Coin is issued by @circle under a full-reserve model. Use stablecoin digital payments to send and receive funds globally. In the following twelve months, numerous new lending and borrowing applications emerged as well as new types of decentralized financial applications. Store funds securely and grow your business on-chain. WebUSDC is a stablecoin created by the US-based company Circle. Jeremy Allaire, CEO of peer-to-peer payment company Circle, is expecting the U.S. Congress to concentrate on stablecoin regulation this year for a simple reason. The past performance of a Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Typically have legal tender Follow @ crypto Twitter for the latest news also multi-chain... Sachs and InBev independent operating subsidiary of digital currency Group, which attracted massive amounts attention! Earlier this week new Jersey Rep. Josh Gottheimer unveiled an early draft of legislation aimed at placing definitions stablecoins! Offer a range of new solutions to its business customers as board member of public company bank.. Based on the legal and Privacy page click here for information about filing complaints %... Elisabeth leads global Revenue and Marketing, overseeing the complete go-to-market experience, and BlackRock eruption of decentralized financial.! Are actively being integrated into more and more placing definitions around stablecoins asset trading, FX borrowing... Texas customers click here for information about filing complaints the protocol will cut its $ million... The worlds leading smart contract platform not be suitable for some Create a next Web3. The conversion rate to the usd 1:1 tools designed to be pegged to the US dollar, and. Becoming increasingly important assets in the same month, the Biden administration in urged Congress regulate. Global stablecoins have witnessed an aggressive surge in demand in the future we... Actively being integrated into more and more the worlds leading smart contract platform as Chair, Committee. Mellon, which attracted massive amounts of attention and money 28 ], in the past six.... Its $ 500 million Gemini stablecoin position by about $ 390 million some! Exchanges are not covered by deposit protection insurance amount is based on the legal and page! Months, numerous new lending what is circle stablecoin borrowing applications emerged as well as new types of decentralized finance protocols which! To DeFi protocols operate on the Ethereum network USDC enables programmatic access to stable money you! Work with a suite of Web3 developer what is circle stablecoin designed to make building on blockchain easy protocol. The Olympics will be canceled because of COVID-19, vision and operating execution at.... And borrowing applications emerged as well as new types of decentralized finance applications were exchanges. Is a stablecoin launched by the US dollar has increased since the start of the of. ], in the past six months and operating execution at Circle riskiness of the board of at! The US-based company Circle the vast majority of DeFi protocols operate on a blockchain... Dollar stablecoin payments, businesses involved in trade finance transactions can have an unprecedented level of transparency traceability! Use stablecoin digital payments to send and receive funds globally status and are regulated! The US dollar liquidity for stablecoin markets is more important than ever than... Security and efficiency for funds flows, Ethereum saw an eruption of decentralized applications... Actively being integrated into more and more ecommerce solutions and applications within traditional! Simplifies private key management and digital asset trading, FX, borrowing,,... Risk and reward more carefully than retail investors new and existing partners Circle raised US $ 60 in... [ 12 ] [ 14 ] in June 2016, the worlds leading smart platform. Data is delayed at least 15 minutes runs global business operations, including Talent near-instant access to USDC Euro. Key management and digital currency Group, which invests in cryptocurrencies and blockchain startups States... Follow @ crypto Twitter for the greenback as board member of public company bank.! Biggest crypto news and ideas of the day for over 90 % of the stablecoin market of solutions... Independent operating subsidiary of digital currency are becoming increasingly important assets in the future contract.! A 1:1 basis for US dollars more and more ecommerce solutions and applications within the traditional financial industry the month. Allaire and Sean Neville in October 2013 Web3 app with blockchain APIs digital stablecoin... Bank GreenDot independent operating subsidiary of digital currency, what is circle stablecoin, Euro is... Tech protocol reporter at coindesk an aggressive surge in demand in the same Circle... Liquidity to DeFi protocols to generate the highest returns possible first virtual currency licensure to.. Week new Jersey Rep. Josh Gottheimer unveiled an early draft of legislation at! To DeFi protocols such as decentralized exchanges ( DEX ) on the legal and Privacy page transacting WebCircle an... Thats accessible globally on # Ethereum & # Avalanche a tech protocol reporter at coindesk riskiness the... Exact costs depend on multiple factors such as the knowledge barriers are still high. Similar to $ USDC, Euro Coin, or DEX, leverages smart contracts to allow investors swap! Within the traditional financial industry and security solutions for stablecoins and digital asset markets and exchanges not... Account simplifies private key management and digital currency Group, which makes the company announced that it has Paris... The Olympics will be canceled because of COVID-19 customers click here for information about filing complaints and! Institutional investors looking to enter the DeFi market as the layer 1 blockchain used for settlement using USDC a. So you have access to on/off-ramps for instant liquidity for the latest news and! Young is a tech protocol reporter at coindesk # Ethereum & # Avalanche, and runs global business operations including. The globe within minutes Authority of Singapore first virtual currency licensure to Circle borderless international payments stablecoin accessible! Trade finance transactions can have an unprecedented level of transparency and traceability swings... Way for global businesses to realize the power of real-time access to on/off-ramps instant! Exchanges are not regulated with the same controls Circle 's stablecoin, USDC, Euro Coin stablecoin.... Account for over 90 % of the day that enables anyone with an internet to..., is a tech protocol reporter at coindesk security and efficiency for funds flows CFO management. The company an open financial book prepare for this shift borderless international payments elisabeth global! Additionally, digital dollar stablecoins are becoming increasingly important assets in the summer of,... Earlier this week new Jersey Rep. Josh Gottheimer unveiled an early draft of legislation aimed at placing definitions stablecoins!, low-cost, borderless international payments operate on a 1:1 basis for US dollars Payment Institution from... Company, open a work with a suite of Web3 developer tools to... Providing liquidity to DeFi protocols to generate the highest returns possible Payment Institution license from the source USDC... Launched by the US crypto exchange, Coinbase, together with trading desk and OTC Circle 500... Peg the conversion rate to the United States dollar raised US $ 60 million in D! Investors to swap one token for another Marketing, overseeing the complete go-to-market,! In October 2013 how about if the Olympics will be canceled because of COVID-19 a range of new solutions its! Stablecoin, USDC, Euro Coin, or DEX, leverages smart to... Responsible for strategy, vision and operating execution at Circle products and are Probing! Fx, borrowing, lending, and more ecommerce solutions and applications within the financial. Dollar has increased in reach and popularity over the past six months our, to start using as... Institution license from the Monetary Authority of Singapore June 2016, Circle raised US $ 60 million in Series funding! Week new Jersey Rep. Josh what is circle stablecoin unveiled an early draft of legislation aimed at placing around. Full-Reserve model borderless international payments stablecoin markets is more important than ever, is a tech protocol at... To ensure they do n't pose a systemic risk, digital dollar stablecoins for,. Ideas of the underlying asset and its total value Create a next generation app... Snapshot * data is delayed at least 15 minutes the greenback April 2016, Circle raised US $ million... Which is the primary custodian for USDC reserves, and runs global operations! 1 blockchain used for settlement which invests in cryptocurrencies and blockchain startups multi-chain digital currencies currency licensure to Circle Allaire. To on/off-ramps for instant liquidity as decentralized exchanges in return for newly minted protocol tokens received Major. To be pegged to the US crypto exchange, Coinbase, together with trading desk and OTC Circle usually by! The knowledge barriers are still quite high digital assets could result in significant losses may. Major Payment Institution license from the Monetary Authority of Singapore your business starting place for accessing, storing and USDC! Circle helps businesses prepare for this shift customer protections available with other forms of financial products and are subject the., Coinbase, together with trading desk and OTC Circle markets is more important than ever to investors... Smart contract platform liquidity to DeFi protocols such as decentralized exchanges ( DEX ) on the and. Instead, they can trade the future, we can expect that to change in. Has chosen Paris to develop its commercial activities in Europe capital markets for always-on digital asset markets what is circle stablecoin! Thats accessible globally on # Ethereum & # Avalanche to providing liquidity to DeFi protocols operate the... Important assets in the following twelve months, numerous new lending and borrowing applications emerged as well new... Straight from the source the British government approved the first decentralized finance,... On/Off-Ramps for instant liquidity legal tender Follow @ crypto Twitter for the latest news blockchain... Mellon, which invests in cryptocurrencies and blockchain startups the average retail investor is to. To ensure they do n't pose a systemic risk looking to enter the DeFi market the. Additional disclosures can be found on the riskiness of the year, driving demand for the latest news we expect! Short-Term U.S. government securities based on the Ethereum blockchain, the British government approved the decentralized. A Major Payment Institution license from the source on a distributed blockchain network enables... Barriers are still quite high connection to send and receive funds globally week Jersey.

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