Circle’s Move Comes as Stablecoin Has Been Losing Market Share
Circle, the issuer of the dollar-pegged USDC stablecoin, hasunveiled an integration with Apple Pay, the payment service with over half a billion صارفین دنیا بھر میں.
Merchants will be able to accept USDC as payment using this new feature.
According to the company, the integration will remove a source of friction for crypto-native businesses as they can accept traditional payment methods in addition to crypto.
Traditional businesses can use USDC as a settlement currency and Apple Pay users will also be able to buy cryptocurrencies from their preferred exchanges using USDC.
Circle is looking to integrate more payment methods going forward. It recently شامل کیا merchant support for Bitcoin and Ethereum.
In April, leading web3 wallet provider Metamask توسیع support for Apple Pay, which allows users to purchase cryptocurrencies using credit and debit cards and store the assets in their non-custodial wallets.
8 جون کو سرکل توسیع onto Polygon’s proof-of-stake chain in a bid to lower transaction costs and increase transaction speeds.
Circle Taps BlackRock
On Nov. 3, Circle کا اعلان کیا ہے a new fund called the Circle Reserve Fund that will be managed by BlackRock, the world’s largest asset manager. The fund will be exclusive to Circle and will comprise cash and short-term U.S treasury bills.
The Bank of New York Mellon, which already holds some of USDC’s reserve assets, will be the custodian for this fund.
اعتماد دوبارہ حاصل کرنا
DeFi users have shied away from USDC after Circle pre-emptively پر پابندی لگا دی 38 addresses that had interacted with Tornado Cash, the sanctioned privacy mixer protocol.
In October, we reported that USDC has lost more than $ 10B in market capitalization since the move.
USDC now appears to be regaining lost ground, as خالص اجراء from Nov. 3 to Nov. 10 increased by $1.5B. Meanwhile, its market capitalization is up 5% to $44B.
