Xapo Bank et Circle s'associent pour intégrer USDC Stablecoin

Xapo Bank, une banque privée agréée et dépositaire de Bitcoin, s'est associée à la société de technologie financière Circle pour intégrer les rails de paiement USD Coin (USDC) comme alternative au système de paiement SWIFT traditionnel. Ce partenariat permet aux membres de Xapo Bank de déposer et de retirer des fonds en utilisant le stablecoin sans frais.

Timeline of Usd-coin

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.

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.

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.

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.

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.

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?

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.

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.

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

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.