BOSTON, May 14, 2021 /PRNewswire/ -- Circle, a global financial technology firm that provides payments and treasury infrastructure for internet businesses, today announced it has entered into a global partnership with FTX, the world's fastest growing crypto exchange.
Under terms of the partnership, FTX has integrated Circle APIs and launched USD Coin (USDC) payments support across its FTX and Blockfolio services. Building on Circle API Services allows FTX to tightly control their customer experience while enabling payments and payout rails through ACH, international wire transfers and credit and debit cards.
FTX and Blockfolio customers can now fund their dollar balances with instant access for trading using credit and debit cards in nearly 200 countries, with funds instantly settling in USDC. With seamless 'fiat-to-USDC' experiences, customers can also easily transfer USDC on Ethereum, but also on Solana, a rapidly growing 3rd generation blockchain, enabling on-chain USDC transactions in seconds with no transaction cost.
"Circle has been a pioneer in making fiat work on blockchains for nearly eight years and has built deep capabilities to ease payments in crypto," said Sam Bankman-Fried, Co-Founder CEO of FTX. "Circle is moving with incredible speed. FTX is one of the fastest growing crypto exchanges in the world. With Circle, we've found a very strong partner to build with."
"FTX continues to impress the world with blazing fast execution and innovation, making it among the most formidable companies in the global crypto ecosystem," said Jeremy Allaire, CEO and Co-Founder of Circle. "With our latest collaboration, we're continuing to pioneer customer experience for payments and crypto trading, and we are thrilled to continue to build together with Sam and the FTX team."
USDC has continued to experience tremendous growth, becoming the fastest-growing regulated dollar digital currency in the world. USDC in circulation has grown from just over 400 million in early 2020 to over 15 billion today. USDC adoption has expanded across trading, payments, savings, lending and other use cases in blockchain finance. Today, thousands of companies in the blockchain ecosystem have integrated support for USDC in their products and services.
About Circle Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle's platform has supported more than 100 million transactions by more than 10 million retail customers and more than 1,000 businesses. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully reserved dollar digital currency. USDC now stands at more than $15 billion and has supported over $500B in transactions over the past year. Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com