Circle Internet Financial, LLC, a global internet finance company that provides internet-based payments and financial infrastructure to businesses of all sizes, and the sole issuer of USD Coin (USDC), today announced the launch of the new Circle account.
Through the comprehensive portal, Circle Account enables business clients to deposit, withdraw, send, receive, store and allocate funds to invest in digital currency to implement their operations in the digital economy.
The new Circle account comes amid growing interest in digital assets. According to a recent study by Gartner in December 2021, 20% of businesses will use “digital currencies for payments, stored value or collateral by 2024”. Along with this heightened interest comes rapid innovation in blockchain technology that is driving faster and cheaper transactions, and as high inflation prompts some businesses to turn to digital assets as hedges.
As a one-stop-shop to help businesses accelerate growth and quickly integrate into the digital economy, Circle Account makes it easy to initiate transactions with USDC and settle in and out of digital currencies. From 2020 to the end of 2021, demand for Circle accounts skyrocketed, with active accounts increasing by 213%. Through Circle Account, accredited institutional investors can allocate funds to Circle Yield* to generate a better return on their USDC by investing it in the crypto capital markets. Circle Yield is a fully secure, oversized fixed term investment with bitcoin.
“The new, revamped Circle account is focused on delivering a dynamic and enhanced experience to our business customers, making it the go-to destination for payments and treasury activities,” said Rachel Mayer, vice president of product. at Circle.
The new Circle account offers an enhanced user experience that allows customers to send and receive USDC on eight different blockchains, make near-instant transfers through Signet and the Silvergate Exchange Network (SEN), download history transactions and view balance summaries and earn returns through Circle. Performance – all with increased security and flexibility thanks to new features such as multi-factor authentication and multi-user support. Users can transact with USDC on Ethereum, Algorand, Solana, Stellar, TRON, Hedera, Avalanche, and Flow.
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