FV Bank, a global digital bank, has partnered with Circle to enable instant and automatic USD Coin (USDC) conversion into USD upon deposit.
Per the Ukënnegung:
“FV Bank customers will now be able to receive USDC directly into their bank account, and have the funds instantly converted into USD at the moment of receipt.”
Circle is a global financial technology and the USDC issuer. Therefore, the strategic integration seeks to minimize the friction experienced during settlements, making money transfers faster.
As a result, FV Bank users will be able to present invoices in USDC to international clients.
Miles Paschini, FV Bank CEO, stated:
“It was imperative for us to work with a stablecoin issuer who has an excellent track record and whose values align with our own.”
En huet gesot:
“We look forward to growing our working relationship with Circle, as we collaboratively help bridge the traditional financial system with the world’s leading blockchains to unlock further growth in the digital asset sector.”
Circle’s treasury services and transactions are emerging as a stepping stone toward a frictionless value exchange, prompting a new generation of commerce applications and financial services.
Arcane Research had predicted that the USDC would dethrone Tether (USDT) at the top stablecoin seat in October. The market insight provider bemierken:
"Um Enn vum Q2 ass d'total Stablecoin Versuergung op $ 151.3 Milliarden, $ 35.1 Milliarde, oder 18.8%, iwwer de leschte Véierel, de gréisste Véierel-Download an der Geschicht vu Stablecoins. Et gëtt virausgesot datt de Maartwäert vun USDC am Oktober USDT iwwerschreift.
USDT is one of the leading stablecoins with a market capitalization of $67.98 billion at the time of writing, and USDC comes second with a value of $49.95 billion,no ze maachen CoinMarketCap.
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Source: https://blockchain.news/news/fv-bank-partners-with-circle-for-instant-usdc-deposits-and-conversion