USDC will soon be launched on the Algorand blockchain
The integration will allow customers using Circle's APIs to convert their business accounts or card network into stable tokens
The Algorand Foundation announced the launch of the new stable currency called USD Coin (USDC), which refers to a Circle and Coinbase joint venture, and will soon be launched on the Algorand (ALGO) blockchain.
Those customers who use the Circle APIs or their Business Accounts will have the option to convert the funds from their bank account or card network into stable tokens, which will be directed to the Algorand blockchain.
For Circle co-founder and CEO Jeremy Allaire, “growth in major financial use cases is driving increased demand for high-performance payments and a blockchain infrastructure optimized for finance.”
Algorand and Circle objective
Allaire says that the combination of “USDC and Circle Platform Services with the Algorand blockchain will create a foundation for developing a wide range of scalable, secure and compliant financial applications.”
For his part, Fangfang Chen, director of operations of the Algorand Foundation, assures that the main objective is to promote the USDC as a firm and reliable mechanism in public chains. “As more financial institutions and companies seek to build decentralized financial applications, they need an adequate, stable, regulated and widely accepted infrastructure.”
K.Villarroel
Source: cointelegraph
