Circle enables seamless USDC-USD transfers, providing a bridge from banks to DeFi
The result of developments in both crypto technology and regulation, Circle’s new USDC API provides a bridge between crypto and traditional finance. Circle, the company behind the second most popular stablecoin USD Coin, has rolled out a new API that will allow for the seamless transfer of USDC to USD via automated clearinghouse (ACH) systems. The first exchange to adopt the new API will be derivatives and futures specialist FTX, looking to speed up USD settlement processes on behalf of their customers. In a blog entry, project manager Gee Chuang described how Circle’s ACH API improves connections between the fiat world and the digital world by introducing interoperability among payment rails, such as card, wire and blockchain transfers.
Coin Telegraph - 27th Jan 01:01