Circle Launches New Account for Business Growth

The global financial technology firm, Circle recently announced the launch of a new Circle Account for the growth of businesses around the world. The company termed the recently launched account a starting place for digital asset innovation.

Circle is planning to support global businesses through easy access to USD Coin (USDC), one of the fastest-growing digital currencies. The current circulating market capitalization of USDC stands at around $53 billion. Circle highlighted that USDC is completely backed by cash, equivalents, and short-duration US Treasuries.

During the past 12 months, USDC saw a massive surge in adoption and its market cap increased substantially. In the latest crypto market corrections, investors parked large amounts in different stable coins.

According to Circle, the new account will enable its users to access and swap USDC across 8 public blockchains. The mentioned product is available via one simple interface.

"Our Circle Account gives incredible confidence and control over our investment in Circle Yield. It is easy to use and provides up-to-the-minute status across all of our USDC investments,” Alex Song, Head of Finance & Capital Markets at Ramp, commented.

Speed of the Transaction

Ben Duggan, Head of Investor Relations at Berkley Capital, highlighted that one of the key features of the new Circle account is the speed of the transactions. "We’ve been extremely impressed with the Circle Account, especially how quick and easy it is to use. Sometimes we send funds in and out and are in and out of the website in less than a minute,” Duggan said.

“Reach beyond borders and trade faster with the Circle Account. For institutional accredited investors, earn yield and increase your bottom line with Circle Yield. No matter the stage of your business, the Circle Account can help you transact freely and accelerate your global growth,” Circle highlighted.