Circle’s new product comes as crypto firms aim to increase the role of stablecoin payments in the real-world economy.
Stablecoins are a type of cryptocurrencies that anchor their price to another asset, predominantly to the U.S. dollar. They are a $128 billion asset class and a key piece of infrastructure that bridges traditional payment systems with the digital-asset economy, facilitating trading, transactions and conversion to crypto from government-issued (fiat) money.
“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,” Circle CEO Jeremy Allaire said in a statement.
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