Circle Inks Partnership with BCB Group to Meet Growing USDC Demand from Financial Institutions

Latest Cryptocurrency News
Thu, 08/06/2020 - 14:02
Yuri Molchan
Major fintech firm Circle has partnered with BCB Group to help it improve its infrastructure for efficient use of USD Coin for payouts, settlements, etc.
Circle Inks Partnership with BCB Group to Meet Growing USDC Demand from Financial Institutions
Cover image via stock.adobe.com
Contents

A major global financial services group that works with digital assets and financial institutions has announced its partnership with the London-based company Circle, the creator of the USDC stablecoin.

BCB Group will make use of Circle’s functionality in order to improve the way its institutional customers utilize Circle’s USD Coinincluding transaction speed, fees, and so on.

USDC
Image via Twitter

New partnership to meet growing demand for USDC

BCB Group has partnered with USDC emitter Circle as the demand for stablecoins, and USDC in particular, is growing from BCB’s institutional clients.

BCB intends to integrate the functionality of Circle and improve the speed of transactions, lower payment and settlement fees for customers and improve the efficiency of settlements overall.

BCB is committed to becoming a leading company that provides quick and efficient USDC payments in Europe. This partnership with Circle will also allow BCB’s clients to solve their issues with clearing and custody and will lower the negative rate risk for their European exposure.

Related Circle’s USDC Stablecoin Joins $1,000,000,000 Club
Related
Circle’s USDC Stablecoin Joins $1,000,000,000 Club

USDC is the fastest growing stablecoin

USDC is believed to be the USD-backed stablecoin that is fastest growing, unlike its rivals, and is fully backed by the CENTRE consortium founded by Coinnbase exchange and Circle.

Besides, unlike USDT, USDC has no issues regarding the sufficient amount of USD that its supply is pegged to.

Both Circle and BCB Group CEOs are excited about the partnership and believe it to be beneficial for each other and for USDC's further adoption.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.