Xapo Bank and Circle Partner to Integrate USDC Stablecoin


Xapo Bank, a licensed private bank and Bitcoin custodian has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to the traditional SWIFT payment system. This partnership allows Xapo Bank members to deposit and withdraw funds using the stablecoin without fees.

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Xapo Bank Now Allows Stablecoin USDC Deposits and Withdrawals - CrowdFundInsider

Xapo Bank says it is the first regulated bank to accept USDC deposits and withdrawals. Issued by Circle, USDC is the second largest stablecoin by market cap, pegged to the US dollar.

USDC issuer Circle seeks regulatory approval in France amid US banking troubles - CryptoSlate

USD Coin (USDC) issuer Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP) in France — expanding its operations in Europe.

Circle Eyes French E-Money License, Names Paris As Centerstage For European Expansion - EWN

Stablecoin issuer Circle plans to set up shop in Paris and expand into other European markets from the French capital.The crypto payments company also applied for an e-money service provider license as part of its growth strategy in Europe.CEO Jeremy Allaire added that the USDC issuer is working to align its Euro-backed stablecoin with the landmark MiCA bill. Crypto payments company Circle applied for an e-money license from regulators in France as the USDC stablecoin issuer moves to expand its presence across European markets, Bloomberg reported on Tuesday.

USDC issuer Circle offered $3 billion emergency backstop from Coinbase - AMBCrypto

A multi-billion dollar emergency credit facility from American crypto exchange Coinbase to Circle Internet Financial recently came to light. The credit line was reportedly offered to the USDC issuer last week after the collapse of Silicon Valley Bank.

Coinbase offered Circle $3b credit line to repeg USDC - Crypto news

Crypto exchange Coinbase reportedly offered a $3 billion credit line to Circle, the crypto company that issues the USD Coin (USDC) stablecoin, in an effort to bring the stablecoin back to its $1 peg.

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1? - Coingape

Crypto News: As more information about the tragic weekend of the USDC depeg continues to surface, the newest development in the wake of the failure of Silicon Valley Bank is the introduction of a credit line with a value in the multi-billion dollar range. It has been reported that Coinbase made a massive offer of The post Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?

Chainalysis: the reaction of crypto to the demise of SVB and the USD Coin depeg - The Cryptonomist

Before the Silicon Valley Bank (SVB) crisis, the stablecoin USD Coin had captured about 70% of the on-chain transaction volume on Ethereum, indicating its popularity among the DeFi and NFT community.

USDC in circulation fell over 10% since de-peg event - CryptoSlate

The stablecoin market has seen significant changes over the past few weeks — including the removal of over 7 billion USDC stablecoins from circulation following the depegging event on March 11.

USDC depeg will hinder stablecoins' growth, increase regulatory scrutiny: Moody's - Cointelegraph

"Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins' potential volatility,” Moody's said.

USDC Minting And Redemption Backlog Almost Cleared By Circle - Bitcoinist

USDC stablecoin investors panicked when Circle announced its exposure to the shuttered banks, and Circle's latest report on USDC Reserves and attestation from Deloitte, the global audit company, confirms the connection.  However, in a new development, Circle reports almost clearing all minting and redemption requests for USDC.

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