Circle, the company behind $ 60 billion USDC stableecoin, launches a new payments and cross -border remittance network on Tuesday – the company’s “next product movement” – from its lavish New York City headquarters, high on the 87th floor of the One World Trade Center.
The launch event is aimed at banks, fintechs, payment service providers, transfer providers and USDC strategic partners. It will include Circle CEO Jeremy Allaire, who shares his vision for the StableCoin giant’s next move in the payment room, according to an invitation seen by Coindesk.
New and beginning rules across the globe open the StableCOin room, where Circle has shared the limelight with larger rival binder. It then makes sense that the circle – a company that has successfully turned over its years in the crypto area – should seem to be consolidating its position and returning to its roots as a paying company.
“Circle launches a payment network that is originally targeted at transfers, but ultimately aims to compete with MasterCard and Visa,” said a person who is familiar with the plans.
Stableecoins have reached an adoption level where technology could interfere with global money transfers in a way similar to WhatsApp and international calls, the VC company Andreessen Horowitz said in the recent report.
In a recent interview, Crypto Custody Tech Specialists pointed Fireblocks to billions that were moved around by payments providers that make things like cross -border payments using stableecoins such as USDC and USDT.
Circle was in the news recently after the company announced plans to publish in the United States, only to postpone the date of its IPO thanks to chopping and uncertain market conditions.
Circle did not immediately respond to requests for comment.
