All posts tagged: usdc

USDC-Issuer Circle Plans Payment Network to Process Transactions via Stablecoins

USDC-Issuer Circle Plans Payment Network to Process Transactions via Stablecoins

Published by Webster

Circle is planning to launch an international payments network that will allow large corporations to complete settlements via stablecoins. The issuer of the USDC stablecoin released a whitepaper this week detailing possible ways in which stablecoins can upgrade the global payment systems. This system is dubbed the Circle Payments Network (CPN). It has been designed to function as a protocol layer within a digital settlement system with support for stablecoins like USDC, EURC, and more in the future. With the CPN, Circle aims to offer a cross-border payment solution that is cost effective, swift, compliant, and transparent. It could be of significant help to global suppliers, small merchants, content creators, and remittance recipients. “CPN is transparent, secure, scalable infrastructure for financial institutions. Circle has built a rigorous governance framework for CPN that requires participating financial institutions to meet global Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) standards, along with economic sanctions requirements,” the US-based company said in its whitepaper. The system will offer billing services, credit services, compliance services, risk and fraud services, …

Sony Online Store Begins Accepting USDC via Crypto.com Pay in Singapore

Sony Online Store Begins Accepting USDC via Crypto.com Pay in Singapore

Published by Webster

Sony Electronics recently announced that it has begun accepting the USDC stablecoin for payments in Singapore. The electronics giant has teamed up with Crypto.com to facilitate USDC transactions on its online store, it said in an announcement on Wednesday. Crypto.com is an exchange for virtual digital assets (VDAs), headquartered in Singapore. Sony is continuing its foray into its Web3 sector — it recently launched its own Soneium blockchain. For now, only Sony Store Online customers in Singapore will be able to access the USDC payment option. In a press release, Sony acknowledged that crypto payments are growing in popularity, especially with a younger generation of tech-savvy customers. The company also said that its decision to accept USDC payments aligns with its efforts to keep up with Web3-focussed advancements in the fintech sector. Crypto.com General Manager Chin Tah Ang said such initiatives can push crypto into more mainstream uses. He noted that Sony could use the opportunity to raise awareness around crypto-related payments to its large customer base. “This payment integration will not only benefit our …

Circle Says USDC Crosses Trillion Lifetime Transactions Milestone

Circle Says USDC Crosses $18 Trillion Lifetime Transactions Milestone

Published by Webster

Circle, the issuer of the USDC stablecoin, says that the circulation of the digital asset clocked a year-on-year growth of 78 percent. Around November 2024, the company revealed that the monthly transaction volume of the USDC token touched the $1 trillion (roughly Rs. 86,39,270 crore) mark. The company states in a report that since its launch in September 2018, USDC’s volume has touched $18 trillion (roughly Rs. 15,55,21,000 crore) in all-time volume. US-based Circle is headquartered in Boston, Massachusetts. Its USDC stablecoin, pegged against the US dollar, rivals Tether in the stablecoin market. While Tether is touted as the largest stablecoin by market cap, Circle is said to be the second-largest token in the stablecoin space. The holders of USDC can convert fiat-to-crypto, while also having the option to use the tokens to process payments to avoid additional payment charges. According to CoinMarketCap data, 45.76 billion USDC tokens are in currently in circulation. Circle Says Improved Scalability of New Blockchains Accelerated the Adoption of USDC In its report, Circle credits the growing regulatory clarity and …

Binance and Circle Partner in Bid to Boost USDC Stabecoin Adoption

Binance and Circle Partner in Bid to Boost USDC Stabecoin Adoption

Published by Webster

Crypto exchange Binance has joined forces with USDC-issuer Circle to expand the stablecoin ecosystem globally. The companies announced the development along the sidelines of the ongoing Abu Dhabi Finance Week on Wednesday, December 11. With this partnership, Binance claimed, it wishes to testify to the evolving on-chain financial sector. As for Circle, its USDC stablecoin (pegged against the US dollar) could see adoption among Binance users – especially at a time when countries like China and Russia are accelerating efforts to reduce reliance on financial settlements relying on the US fiat currency. In a press release, Binance said it will adopt the USDC stablecoin to maintain its own treasury. The exchange crossed the 200 million user mark in June. As part of this partnership, Binance said it will roll out more trading pairs that include the USDC stablecoin. “Our users will have even more opportunities to use USDC on our platform, including special promotions on USDC across trading and other products on Binance. We will also work closely with Circle to drive innovation and utility …

USDC-Issuer Circle Partners with Sony to Expand Stablecoin Adoption via Soneium

Published by Webster

In August, electronics giant Sony launched Soneium, a layer-2 blockchain, and established Sony Block Solutions Labs (Sony BSL) to spearhead its blockchain ventures. In a recent development, Circle, the issuer of the USDC stablecoin, has partnered with Sony to expand the USDC ecosystem through the Soneium blockchain. This collaboration also seeks to position USDC as a key token within the Soneium network, further integrating stablecoins into Sony’s blockchain strategy. For Sony, this partnership is expected to capitalize on USDC’s strong market reputation to attract users and creators to its suite of customised blockchain services. Meanwhile, Circle will integrate its ‘Bridged USDC Standard’ with Soneium, making the US-dollar-backed stablecoin more accessible to a broader range of blockchain users. In an official announcement posted over the weekend, Circle explained that “Bridged USDC serves as a proxy for native USDC held on Ethereum, enabling developers building on layer 2 blockchains like Soneium to easily power their apps with digital dollar payments.” Jun Watanabe, Chairman of Sony Block Solutions Labs, emphasised that this move aims to deepen the integration …