Subsidiary Of Block Inc. Collaborates With Circle To Promote Global USDC Adoption

2022-9-30 07:54

One of the expectations of the crypto community is adoption, a journey on which USDC has embarked. The more countries adopt crypto and its products, the better the industry thrives in value and utility. That’s why the reports of adoptions always evoke a sense of satisfaction in enthusiasts.

Following cryptocurrency adoption reports from different countries year after year, 2020 and 2021 recorded the most global adoption based on transaction volumes. However, from quarter three of 2021 to 2022, the crypto adoption slightly leveled off the challenging market conditions.

However, despite the decline, the market has remained resilient, and long-term crypto investors continue to hold on, hoping for better outcomes. The Crypto industry Stakeholders try to explore endless options to enable the mainstream adoption of cryptocurrencies globally.

A recent report revealed that TBD, a subsidiary of Block Inc., has formed a collaboration with Circle to work on open-source and open-standard technologies. In addition, the partnership aims to promote the adoption of digital currencies for global transactions and financial applications.

Details Of The TBD-Circle Collaboration

TBD is an open-source platform that allows developers to create products and services on decentralized technologies. TBD plans to connect traditional payments and decentralized financial systems to promote digital currency through its products.

Block Inc. is a multinational tech firm founded by Jack Dorsey and co-founder Jim McKelvey. Block has many subsidiaries, such as Square, Cash App, Afterpay, and lots more. The company’s subsidiaries are majorly payments Platforms. It also owns a digital music streaming company known as Tidal. Block invested 1% of its total asset into Bitcoin in 2020.

On September 29, TBD posted a tweet announcing its partnership with Circle to support cross-border remittance and self-custody of USDC stablecoin. The circle is a global financial tech company that helps businesses and developers explore the power of digital currencies for payment and internet commerce worldwide.

The collaboration between TBD and Circle would undoubtedly yield benefits for the crypto industry. The Chief operating officer of TBD, Emily Chiu, thinks BTC is a potential reserve currency and might challenge the USD in the future. Chiu also feels the stablecoins would become the bridge between USD and BTC future.

Bitcoin on its way to closing above $19,500 l BTCUSDT on tradingview.com TBD to Support USDC Use Cases For Cross-border Remittance

In the collaboration, TBD plans to support USDC in use cases. These use cases would enable developers to build on Block’s tbDEX protocol and Web5 decentralized identity platform.

The use cases include global real-time and low-cost remittance and self-custody USD-backed stablecoin wallets. The use cases would also enable businesses and consumers to make traditional payments using digital assets.

In the current US Feds’ monetary tightening policy and inflation, currencies of many countries have devaluated. As a result, the stablecoins are now remittance and savings alternatives.

TBD intends to support remittance in the United States and Mexico, targeting India, and the Philippines, the world’s largest remittance recipients. Mexico receives 95% of the remittances that come from the United States.

Featured Image Pixabay, Charts From Tradingview.com

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

USCoin (USDC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 USDC

adoption crypto usdc adopt countries embarked value

Источник: newsbtc.com

adoption crypto → Результатов: 126


Crypto Finance Management Platform Request Finance Reimagines B2B Payments

A study from Chainalysis shows crypto adoption has risen by 880% in 2021, and it is only set to grow further. The mass adoption of crypto has become a matter of “when” and not “if”. Just as with the early days of the internet, or computers, businesses are a particularly important constituent in the adoption of any new technology.

2022-3-10 08:42


eToro’s Greenspan: Lack Of Education Is Curbing Crypto Adoption

Bitcoin Hurt By High Entry Barriers Since BTC and its altcoin brethren came into being, many have lauded crypto and related technologies as paradigm-shifting innovations.  Yet, now, just ten years after the first blockchain transaction was processed by one Satoshi Nakamoto — whose magnum opus was the Bitcoin whitepaper — global adoption still seems like a quixotic dream.

2019-1-11 02:00


Фото:

The Bank For International Settlements On Why Regulation Is Good News For Bitcoin

We always discuss Bitcoin regulation as a good thing. Generally, like many others within the community, Bitcoin regulation is seen as the next step towards adoption. Whilst many would like Bitcoin to remain as a channel for investment and as a product that can offer huge returns, many more do believe that the future for Bitcoin is within adoption and that adoption can only come through regulation.

2018-9-25 15:30


Фото:

Who’s Holding Bitcoin?

The world is full of Bitcoin holders, or hodlers (whatever you want to call them) but which countries are holding the most? Whilst this might not seem important, it is in fact very important. In order to see how Bitcoin might flow in the future, we need to see which areas are seeing Bitcoin as a long term investment, compared to the countries that are spending it more quickly.

2018-9-24 12:30


South Korean’s MSICT Offers Help to Crypto Companies For Accelerating Blockchain Adoption

This Friday the South Korean Ministry of Science and Information Communications Technology (MSICT) promised support to facilitate the growth of the domestic blockchain industry. Min Won-ki, the Minister of Science held a meeting with blockchain startups as part of the government’s effort to establish contact with organizations in what it has dubbed the 10 key […]

2018-9-22 18:00


Are Millennials Making Harmful Crypto Investments, or Ahead of the Adoption Game?

According to “experts”, millennials are more likely to be attracted to invest in Bitcoin or other cryptocurrencies. This seems obvious since they have grown up in a largely digital world, but are they taking dangerous risks with their savings or have they got into the next world-changing technology early? Millennials Less Averse to Technological Innovation.

2018-9-22 22:30


Фото:

Japan Reports Crypto Thefts up Three-Fold in 2018, Worth Half a Billion in Stolen Funds

Cryptocurrency–The National Police Agency of Japan has released troubling news on the state of cryptocurrency-related thievery. Despite growing adoption and awareness for the industry throughout 2018, thereby leading to an improvement in security for user funds, the Japanese organization reports crypto-related thefts have cost users more than half a billion dollars.

2018-9-21 04:42


Best Cryptocurrency Headlines Happening Today in the Bitcoin and Blockchain Industry

Here was Part 1 Recap for today from Bitcoin Exchange Guide News Team! TRON Blockchain Network Eyes Massive Gaming Potential for TRX Coin Adoption TRON Blockchain Network Eyes Massive Gaming Potential for TRX Coin Adoption TY Capital Investment Company Offers Crypto Asset Trading: But is it Safe? TY Capital Investment Company Offers Crypto Asset Trading: […]

2018-9-20 07:21


Фото:

Premier League Football Continues To Lend Itself To Bitcoin Adoption

There’s a big trend in Premier League football at the moment that seems to be bringing in big interest in cryptocurrency and blockchain based sponsorships in football. London based Arsenal seemed to be the first to reach such an agreement and since then, we have seen cryptocurrency related sponsorships open up within a range of other top-flight football clubs, including Tottenham Hotspur and Leicester City with their new eToro sponsorships (among other clubs).

2018-9-17 14:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Trader loses over $180k in USDC, ANDY to phishing attack

A cryptocurrency investor recently fell victim to a phishing attack on Ethereum, eventually losing over $180,000 in USD Coin (USDC) and ANDY (ANDY), a recently launched meme coin inspired by Pepe. Data from Etherscan reveals that the attack occurred on…