Circle, a digital asset and internet banking institution, said that platforms powered by blockchain and stablecoins such as $USDC are producing new financial platforms and innovation. Circle shared their statement in a September 6 post on X.
“Developers are using stablecoins like $USDC and blockchain powered platforms to deliver new financial applications and innovations,” said . “Hear @jerallaire touch on the utility of digital dollars and more in a recent discussion on the @PompPodcast .”
CEO, co-founder, and Chairman of Circle, Jeremy Allaire, said that he wants “to grow [Circle’s] stablecoin network to be the largest and most actively used in the world, and right now there are more on-chain transactions done with USDC than any other stablecoin,” according to a post on X. Developers are trending toward blockchain-powered platforms and stablecoins to find innovation and new financial applications.
According to Circle’s website, USDC is a regulated digital currency “backed by U.S dollar and redeemable 1:1.” It was created to be an easy way to offer digital payment and works across multiple platforms and applications worldwide. It uses a blockchain infrastructure that’s “faster, less expensive, and more customizable than legacy rails.” It allows businesses to offer “payment connectivity and dollar-backed financial services to more people in more places.”
According to their website, Circle is a crypto payment platform that created its own digital currency called USDC which is backed by the US dollar. Working closely with regulators ensures that their digital dollar “guides and surpasses the standard for stablecoin.” Circle’s mission is to “raise global economic prosperity through the frictionless exchange of value.”
