The circle, the firm behind the $ 60 billion USDC Stablecoin, launched a new payment and cross border remittance network on Tuesday – the “next product transfer” – from its plush New York City ChiefHigh on the 87th floor of the One World Trade Center.
The launch event is aimed at banks, fintech, payment service providers, remittance providers and USDC Strategic partners. It will feature circle CEO Jeremy Allaire who shares his vision for the next Stablecoin Giant move within the payment space, according to an invitation CoinDesk saw.
The new and unintentional regulations worldwide open up the stablecoin space, in which the circle shares the limelight with a larger rival tether. It makes sense after that circle – a firm who has successfully -pivoted its years in the crypto space – should look to combine its position and return to its roots as a payment company.
“The Circle is launching a payment network that initially targets remittances but eventually aims to rival Mastercard and Visa,” said someone familiar with the plans.
Stablecoins reached a level of adoption where technology could interfere with international currency transfer in a way similar to whatsapp and international call, VC firm Andreessen Horowitz said In the previous report.
In a recent -only interview, Crypto custody tech specialists fireblocks are directed to billions -billions transferred by payment service providers that make things such as cross border payments using stablecoins such as the USDC and USDT.
The Circle is in the latest news, after the firm announced plans to go public to the US, to postpone the IPO date thanks to choppy and uncertain market conditions.
The Circle did not respond immediately to the requests for the comment.
