How the BVNK-Circle Partnership Will Expand USDC Utility
USDC has the potential to facilitate the move between the traditional financial system and the evolving world of digital assets.
The cryptocurrency, which is known as a stablecoin, is attached to the value of the US dollar. It is used in several financial applications to produce stability, like remittances and cross-border payments.
USDC can be applied to many areas, including financial inclusion, decentralised finance and global payments to drive innovation whilst providing a stable form of trade for daily transactions.
BVNK-Circle Partnership
This week, BVNK and Circle have announced a partnership that will enhance USDC for BVNK’s customers globally.
Through this, businesses will be able to utilise the impressive stability and speed of USDC for many payment use cases as BVNK will incorporate the cryptocurrency further into its payments offerings.
Chris Harmse, Co-founder and Chief Business Officer at BVNK, comments: “Businesses are diversifying their supply chains, and growing their customer bases globally, but existing payment options don’t always make that easy. Stablecoins like USDC travel on 24/7 blockchains, connecting buyers and sellers globally in an instant."
"Our partnership with Circle reflects our shared vision to accelerate the global movement of money in a safe and compliant way. It also demonstrates the increased demand we’re seeing from our business customers for efficient, secure ways to pay across borders.
"We’re excited to work with Circle to deploy USDC in new fast-growing payments use cases like contractor payouts and reward disbursements.”
Kash Razzaghi, Chief Business Officer of Circle, adds: “Our collaboration with BVNK brings the power of USDC to innovative businesses that need robust, seamless, and internet-native payment solutions. Working closely with BVNK, we aim to address the accelerating business demand for internet-native financial services and infrastructure.”
About BVNK
BVNK is a modern payments infrastructure provider. The organisation allows for businesses to send or receive payments across the world in a secure and compliant manner, trade between fiat and crypto and include stablecoins into its payment systems.
By offering virtual IBANs, access to various fiat and digital currencies and crypto wallets, BVNK allows businesses to manage both crypto and fiat transactions.
BVNK works closely with sectors that aim to create a seamless integration of digital assets, such as e-commerce, gaming and fintech. This is because the organisation handles all crypto processing, which allows for companies to integrate cryptocurrency payments without directly managing crypto.
The organisation empowers businesses to enhance its financial flexibility, free up capital and catalyse its growth.
About Circle
Circle is a global financial technology firm that created the cryptocurrency, USDC.
The organisation strives to expand the use of stablecoins for corporate treasuries, remittances and cross-border payments.
Circle offers a range of services that aim to enhance the use of digital assets in payment and financial services across the globe. One platform the organisation offers is Circle Account, which permits companies to receive, hold and send USDC globally.
The platform allows businesses to move between digital and fiat currencies with ease as it integrates with traditional banking systems easily.
Circle’s payment solutions are crafted for many sectors, including remittances, finance and e-commerce, highlighting the organisation’s versatility.
The organisation aims to increase the accessibility and openness of financial services through using blockchain technology and has positioned itself as a pioneer in the crypto and traditional financial fields.
The partnership
The partnership between Circle and BVNK will allow BVNK’s customers to take advantage of the span of benefits USDC holds in payment use cases, including simplifying large-scale customer and contractor payouts and making global payroll more efficient.
By guaranteeing faster transaction times across borders, reducing costs and streamlining payment operations, BVNK will be able to effectively meet the increasing demands from its customers.
BVNK’s access to USDC is confirmable with the European Union’s complex law that guides crypto assets, the Markets in Crypto-Assets Regulation (MiCA).
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