Circle Introduces High Yield Interest Rate Accounts on the Fastest Growing Stablecoin

2020-11-7 19:28

Over the past eight months, the market cap of USDC has surged a whopping 560%.

Before the violent sell-off at the beginning of March, this stablecoin was a mere $445 million, which is ready to hit $3 billion, as per CoinGecko.

USDC’s growth even beats the largest stablecoin Tether’s (USDT), which grew 288% during the same period. However, its total market cap is inches away from hitting $17 billion.

Also, USDC had more than $11 billion of transfer value (adjusted) earlier last week, completely annihilating the previous all-time high of $2.11 billion. However, this record was because of the exploit in the DeFi protocol Harvest Finance, which involved a series of USDC flash loans.

And Circle, which created USDC in collaboration with crypto exchange Coinbase, wants to capitalize on this growth by announcing new high-yield accounts. The tweet from Circle reads,

“Circle is planning to introduce short and medium-term high yield interest rate business accounts built entirely on USDC. Starting at 8% APY, make sure to secure a spot on the waitlist today.”

As per the website, the USDC account starts at 8.5% APY for the open term, while for the fixed term, it starts with 9.50% and can go high as 10.75% for 12-months. The interest will accrue daily and be paid out weekly. Circle states,

“Yield is generated by lending your digital dollars to a network of institutional counterparties that are willing to pay an interest rate for access to additional capital.”

The yield generation offering has been initiated in collaboration with the lending firm Genesis.

Besides high yield savings accounts, it also provides its services to corporate treasuries. Business accounts and APIs were first started in March, allowing companies to “easily upload their dollars to the internet, convert them into digital currency dollars and start storing and using stablecoins for everyday payments,” said Circle CEO Jeremy Allaire at the time.

Back in summer, Circle first started offering lending protocols and rewards for staking USDC. Last month, Circle further shared that USDC would be expanding to Solana and Stellar blockchain, adding to Ethereum and Algorand.

The post Circle Introduces High Yield Interest Rate Accounts on the Fastest Growing Stablecoin first appeared on BitcoinExchangeGuide.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

USDx stablecoin (USDX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.62 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.9965 (-100%)

stablecoin march mere coingecko beginning violent sell-off

Источник: bitcoinexchangeguide.com

stablecoin march → Результатов: 46


Фото:

Stablecoin Supply Doubles to 12 billion Following a 50% Cryptocurrency Market Price Drop

The total supply of stablecoins in existence has doubled to 12 billion, following an increased demand sparked off by the March 12 (Black Thursday) 50% crypto price crash. The findings from the latest research study by Coin Metrics, which is sponsored by Bitstamp, show that it took a period between March 12 and the first […] The post Stablecoin Supply Doubles to 12 billion Following a 50% Cryptocurrency Market Price Drop appeared first on Bitcoin News.

2020-7-19 16:30


Is stablecoin growth accelerating call for hyperbitcoinization in the market?

The 12 March market crash resulted in stablecoins surging, both in terms of supply and market share. The world's largest stablecoin by market cap, Tether (USDT), has maintained its 4th position on CoiThe post Is stablecoin growth accelerating call for hyperbitcoinization in the market? appeared first on AMBCrypto.

2020-4-25 15:30


IOSCO Report: Stablecoins May Fall Under Securities Regulations In Certain Circumstances

The report was published on March 23 and shed more light on the legal uncertainty around stablecoins. IOSCO highlighted an example that sounds pretty similar to Facebook’s Libra. According to the summary, if an entity runs its own stablecoin on a private blockchain with a unique form of governance, then the asset falls under securities […]

2020-3-26 17:30


Фото:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Фото:

Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.

2019-4-27 01:30


Фото:

New ERC-20 Stablecoin Generates up to 45% Profit to Crypto Investors

USDDEX, a Japan-based blockchain project, has announced that the token sale event for its USDDEX decentralized ERC-20 standard stablecoin reportedly pegged at 1:1 with the United States dollar will begin on March 19, 2019, and there’s a 45 percent bonus for all contributors, according to a press release shared with BTCManager on March 18, 2019.

2019-3-19 20:00


Фото:

South Korea: Kakao Ventures Invests Undisclosed Sum in Stablecoin Project Terra

Terra, a blockchain-powered payments platform has received an undisclosed investment from South Korean venture capital firm Kakao Ventures, reports Crowdfund Insider, March 4, 2019. Kakao Goes All in on Terra Saying that South Korea has emerged as one of the global hotbeds for everything blockchain and crypto wouldn’t be a stretch by any means.

2019-3-5 21:00


Breaking: $1.8 Trillion Japanese “Megabank” Launching a Stablecoin for Payments and Remittances in March

The massive Japanese megabank, Mizuho Financial Group, that manages over $1.8 trillion in total assets will launch their own stablecoin… The post Breaking: $1.8 Trillion Japanese “Megabank” Launching a Stablecoin for Payments and Remittances in March appeared first on Invest In Blockchain.

2019-2-22 01:37


Фото:

Japan’s Second Largest Bank to Launch its Own Cryptocurrency in March 2019

According to a report published by Finance Magnets, on December 26, 2018, Japan-based company Mizuho Financial Group is primed to launch its yen-pegged cryptocurrency in March 2019. Mizuho’s Stablecoin to Be Launched in March 2019 The cryptocurrency being introduced by Mizuho will have parity with the Japanese yen and can be used to make and receive payments through a mobile.

2018-12-28 06:00


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Circle’s Stablecoin USDC Launches on Hedera Hashgraph’s Network

Fulfilling its promise to expand to more blockchain protocols in the coming months, USDT close rival USDC has recently launched on the Hedera network. The announcement by popular stablecoin issuer Circle on Monday, October 18, makes the asset the first stablecoin to launch on the network.

SEC Sends an “Investigative Subpoena” to USDC Issuer Circle

The US Securities and Exchange Commission (SEC) sent an “investigative subpoena” to the issuer of USDC stablecoin Circle in July of this year, according to a filing. Circle made this disclosure as part of a filing about its plans to go public through a merger with the special purpose acquisition company (SPAC), Concord Acquisition Corp.