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USDC stablecoin holdings will be held in a bank chosen by Circle
27.06.2022
To grow its customer base with people outside the traditional financial services community, Circle Internet Financial entered into an arrangement with New York Community Bank.
According to bits.media, Circle and New York Community Bank will now jointly formulate a strategic plan to bring the USDC stablecoin and blockchain-based solutions to bank payments. The USDC stablecoin reserves for Circle will be held in a bank.
The Bank and its new partner will conduct customer training seminars. This is said by Andrew Kaplan, who is the executive vice president of the parent company New York Community Bancorp. This will allow clients to learn more about digital assets.
Also, this fact is commented by the director of strategic development and head of international policy of Circle - Dante Disparte. In particular, he says that the partnership with the New York Community Bancorp helps open up new opportunities for local banks to develop throughout the country, as well as financial institutions to participate in relations related to the digital asset market.
New York Community Bancorp is one of the first banks trusted by Circle to hold the USDC stablecoin. Previously, this task was performed by BNY Mellon, a large federal bank. The goals of the partnership are to carry out standard payment transactions in fiat currencies and explore the possibilities of digital assets in order to make settlements.
It should be noted that last month the Euro Coin stablecoin was introduced by Circle. Its peculiarity is that it is pegged to the euro. The original place of work is the Ethereum blockchain. It is planned that further blockchains will be supported.
According to bits.media, Circle and New York Community Bank will now jointly formulate a strategic plan to bring the USDC stablecoin and blockchain-based solutions to bank payments. The USDC stablecoin reserves for Circle will be held in a bank.
The Bank and its new partner will conduct customer training seminars. This is said by Andrew Kaplan, who is the executive vice president of the parent company New York Community Bancorp. This will allow clients to learn more about digital assets.
Also, this fact is commented by the director of strategic development and head of international policy of Circle - Dante Disparte. In particular, he says that the partnership with the New York Community Bancorp helps open up new opportunities for local banks to develop throughout the country, as well as financial institutions to participate in relations related to the digital asset market.
New York Community Bancorp is one of the first banks trusted by Circle to hold the USDC stablecoin. Previously, this task was performed by BNY Mellon, a large federal bank. The goals of the partnership are to carry out standard payment transactions in fiat currencies and explore the possibilities of digital assets in order to make settlements.
It should be noted that last month the Euro Coin stablecoin was introduced by Circle. Its peculiarity is that it is pegged to the euro. The original place of work is the Ethereum blockchain. It is planned that further blockchains will be supported.
