FTX Teams With Circle for Payments and USDC Infrastructure
Global financial technology firm, Circle, announced today it has entered into a partnership with FTX.
FTX, one of the industry’s fastest-growing crypto-exchanges, has teamed up with fintech firm Circle in order to provide payments and treasury infrastructure for internet businesses. As per the terms of the global partnership, FTX has already integrated Circle APIs and debuted USD Coin (USDC) payments.
The payments will be supported across the FTX and Blockfolio services. The Circle API Services give FTX a firm grasp of their user experience all the while enabling payments and payout rails through ACH, credit and debit cards, and wire transfers.
With the new team-up, Blockfolio and FTX users are now able to fund dollar balances with instant access. This can be used for trading using credit and debit cards in over 175 countries. Funds are instantaneously settled in USDC.
Afterward, customers can transfer their USDC on Ethereum (ETH) and Solana (SOL). Solana is a third generation blockchain that allows on-chain USDC transactions free of transaction fees.
As far as USDC goes, it has continued to see strong growth and is on its way to becoming one of the fastest-growing regulated digital dollar currencies globally. The circulation of USDC has grown from 400 million in 2020 to more than 16 billion as of this writing. The adoption of USDC has grown across trading, payments, and lending within the blockchain scene.
