A financial service provider firm, BCB, has announced that it has entered into a partnership with Circle to provide stablecoins payments in EU.
The financial outfit specializes in the provision of services for crypto outfits across the United Kingdom and is known for its work with the leading crypto exchange platform, Coinbase.
As a result of the move, BCB will use the platform provided by Circle to carry out its operations, which are targeted at providing institutional investors with Stablecoins.
The partnership was announced by both parties simultaneously on Thursday and will see BCB use a small portion of Circle network.
BCB clients will have access to USDC through Circle platform
According to the firm, it would be able to carry out its transactions with ease and provide them with a straightforward way to make payments and provide custody for investors.
As a result of the partnership, BCB will provide its clients with access to the USDC through CENTRE consortium, which was initiated by Circle and leading crypto firm, Coinbase.
In a statement by the BCB Group, it stated that USDC would provide companies with many ways to reduce the adverse risk as they look to provide stablecoins payments in EU by giving them safe and secure platforms to make transfers and transactions.
USDC can help companies around the EU access risks in a bid to limit the risks involved in payments by providing swift, secure, and efficient payments.
Circle push USDC adoption as it enables stablecoins payments in EU
In his statement, the founder of Circle, Jeremy Allaire, said that stablecoins had enjoyed so much patronage in the market for a while now.
The coin will provide an excellent framework for clients of BCB. According to CoinMarketCaps data, USDC presently boasts of more than 1.1 billion assets in circulation. The numbers were said to have started rising in the middle of March, around when the Black Thursday occurred.
The asset will still have to do much if it intends to match up with Tether, which is adjudged as the best and most used stablecoin.
Presently, Tether had a total supply in circulation of around 10 billion. Circle was in the news after they teamed up with Genesis in a deal that aimed to push the adoption of USDC further.
With the recent move to enable stablecoins payments in EU, Circle has scored another big one.
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