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

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Thu, 6/08/2020 - 14:02
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Circle Inks Partnership with BCB Group to Meet Growing USDC Demand from Financial Institutions
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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.

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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.

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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.

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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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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