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Cryptocurrency exchange Coinbase (COIN) bought a minority stake in stablecoin issuer Circle Internet Financial. The two companies also dissolved their Centre Consortium partnership, which issued USD Coin (USDC), the world’s second-largest stablecoin. As part of the move, Circle will bring issuance and governance of USDC fully in-house. Also, six more
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase (COIN), a US-based cryptocurrency exchange, has secured a minority stake in a payment company Circle. This collaboration comes as both entities take the significant step of dissolving their Centre Consortium partnership, which had been instrumental
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Coinbase and Circle have redefined their relationship, according to identical announcements on the Coinbaseand Circle blogs on Aug. 21. The two organizations jointly launched the USD Coin (USDC) stablecoin and have until now governed the token through the Centre Consortium.The Centre Consortium “will no longer exist as a stand-alone entity,”
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“I really do believe PayPal grows the pie for us,” McDonnell said in an interview with CryptoX. “Crypto is so small today compared to the overall financial world. And, so, getting a lot of people in, whether they come through the PayPal door, or some other door, a lot of
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Monetary Authority of Singapore (MAS) has released a consultation paper seeking industry feedback on its proposed regulatory approach for stablecoins and related activities in the city-state. Major cryptocurrency firms Ripple and Circle submitted detailed responses to
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Stablecoin issuer Circle has a $1 billion cash reserve pegged as insurance against a declining market capitalization and fresh competition from the traditional finance and technology industries, said CEO Jeremy Allaire. In an interview with Bloomberg, Allaire revealed the war chest and shared his views on the uptick in competition from
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Circle’s CEO, Jeremy Allaire, unveiled that approximately 70% of USDC adoption occurs outside the United States. Despite the perception that USDC primarily caters to the US market, emerging economies and developing regions emerge as strongholds for this
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USD Coin (USDC) issuer Circle has released a beta version of a multiparty computation (MPC) wallet service, according to an Aug. 8 announcement. The new service will allow developers of decentralized finance (DeFi) apps, Web3 video games, e-commerce services and other blockchain applications to create customized wallets specifically for their
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“This new platform marks the first step for Circle’s Web3 services as we work to ease common pain points for developers, remove friction from value exchange, deliver more seamless user experiences and help drive blockchain-powered wallet adoption,” Jeremy Allaire, chief executive of Circle, said in a statement. Source
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The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its “first mover” advantage, but euro stablecoin will see increasing real world use cases emerge to lift it above its current meager market share,
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