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

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 Coin—including transaction speed, fees, and so on.

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.

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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.