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On the 10th of March 2020, Circle, the USDC stablecoin provider, announced it is expanding its Business Account for USDC and introducing a new set of APIs. These APIs control how various software components can interact.
The APIs established by Circle will allow developers to automate USDC transactions in different ways. They will allow businesses to receive both credit and debit card payments in USDC. It will facilitate payments by enabling firms to acquire funds as soon as possible.
More About Circle’s Expansion
Additionally, Circle is offering a Wallets API to allow its clients to receive crypto payments without running nodes, settling on-chain transaction fees, or interacting with public chains. The firm’s Marketplace will enable customers to use USDC in various ways. One way is utilizing businesses to top up customer funds and activate peer-to-peer payments or pay suppliers.
On the other hand, the business accounts act as fiat gateways, meaning that businesses can convert USDC to and from US Dollars effortlessly. Additionally, users of these accounts can redeem and tokenize USDC through bank transfers without any transaction fees. These account users can also perform on-chain transactions with USDC.
Furthermore, funds stored in the Circle Business Account have insurance. The business accounts also have various uses, including payments, savings, lending, cross-border payment, investments, and many others.