Crypto.com taps Circle for global dollar deposits

Support for withdrawals comes shortly after Crypto.com launched support for USDC deposits, thanks to a new partnership with USDC issuer Circle. The digital asset exchange platform Crypto.com has now enabled withdrawals of USD Coin (USDC), meaning that users can withdraw the stablecoin and receive U.S. dollars at a one-to-one ratio directly to their bank account.The announcement comes just over a month after the platform launched support for USDC deposits, following a new partnership with the stablecoin’s issuer, Circle. The partnership enabled Crypto.com users to transfer fiat currency....

For many months now, Bitcoiners have been wondering exactly what services Circle would offer to the fledging Digital Currency community. Since 2013, Circle has been notoriously tight-lipped on the specifics of its operation. Some in the community even went as far as to compare Circle to vaporware. Today, all the speculation is laid to rest. Early 5/16/14, CircleCEO Jeremy Allaire took to Circle's blog to reveal “What We Have Been Up to at Circle.” Circle launches its product today to increase the utility value of Bitcoin by reducing friction. Circle is the first worldwide Bitcoin Bank....

Two years ago the cryptocurrency firm Circle announced the launch of USDC, a stablecoin pegged to the U.S. dollar. This week, Circle revealed the launch of high yield digital dollar business accounts with APY up to 10.75%. On September 26, 2018, Circle and the Centre open-source consortium launched an ERC20 token called USD Coin or USDC. At the time of publication, USDC is the 12th largest blockchain in terms of market capitalization with $2.8 billion circulating today. Under tether (USDT), USDC is the second-most popular stablecoin. “USDC is the first of several fiat tokens Centre....

Silvergate is a major crypto bank known for assisting the launch of El Salvador’s crypto wallet Chivo. Major cryptocurrency exchange Crypto.com continues expanding its crypto on-ramp and off-ramp solutions with a new partnership with the California state-chartered bank Silvergate.Crypto.com announced on Nov. 30 that it is working with Silvergate to allow institutional clients to deposit and withdraw from the exchange using the U.S. dollar (USD).According to the announcement, bank transfers to and from the Crypto.com exchange are now available for institutional investors. With the help of....

On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment offerings.” Circle says the new service will make it easier for merchants to integrate their existing points of contact with Circle’s crypto solutions. Circle Reveals New Permissionless Cross-Chain Transfer Protocol at Converge22 This week Circle and a number of other crypto industry heavyweights attended the Converge22 event in San Francisco.....