Xapo Bank, a bitcoin custodian that also operates as a privately licensed bank, has teamed up with Circle to develop an alternative to SWIFT based on USDC payment rails. The bank claims that it has installed rails on the already existing USDC onramps. As a direct result of this, users of Xapo Bank are able … Read more
Circle, the American startup behind the USDC stablecoin, the world’s second-largest stablecoin, has provided its community with facts regarding its business operations. Circle stated (1) in a blog post published on March 14 that it had resumed its usual activities, which include the repayments of the USDC stablecoin. This information was made public. The week … Read more
A bankruptcy counsel for BlockFi argues that the cryptocurrency lender is secure and in no imminent danger, even though Silicon Bank has been exposed as a potential risk. Christine Okike, the attorney for the troubled corporation in New Jersey, indicated that the business has adequate finances to maintain normal operations even if it is currently … Read more
Circle claims that most of the reserves backing its USDC stablecoin are in the form of United States Treasury Bills. The cryptocurrency startup Circle, the issuer of the stablecoin known as USD Coin (USDC), recently announced that the USDC reserve risk that the company’s important customers were nursing had been removed. According to what was … Read more
Circle, the company that issued the USDC stablecoin, said late Friday that it still has about (1) $3.3 billion in reserves at Silicon Valley Bank out of a total of $40 billion. Once a panicked public rushed to withdraw their money from the high-tech lender, the stock price plummeted. On Friday, 48 hours after one … Read more