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The launch of Circle business APIs will help bring a more diverse range of clients to the company’s fold. Circle announced the launch of ‘Circle Business Account’ featuring a developer-ready API toolbox with USDC support. This brings Circle to the realm of stablecoins from its primary objective that centers around crypto trading and investing solutions.
Introducing Circle platform services w/ APIs for Payments, Wallets & Marketplaces for businesses and developers to harness the power of USDC. Read more from Circle CEO @jerallaire https://t.co/PCbzhszFBs @circlepay #USDC #Stablecoins https://t.co/z5HRGZg3SC
— Circle (@circle) March 10, 2020
Developers can build on top of USDC using Circle business APIs. The company hopes to promote the stabelcoin cause using advance APIs, especially in the business community.
Circle business APIs to usher in the steblecoin era
Circle’s business clients can simply sign up and start working with the latest Circle Business APIs and build atop USDC. Interestingly, Circle founded the USDC stablecoin in 2018 in collaboration with Coinbase using the CENTRE consortium. The stablecoin in indeed Circle’s ticket to move away from the crypto trading and investing sector and seek new greener pastures elsewhere.
Circle has a history of turning around downtrodden entities. Poloniex is a perfect example of this phenomenon. Earlier, Circle’s ‘over-the-counter’ trading desks were sold to Kraken. Now, the company looks set to do the same with SeedInvest. Jeremy Allaire, chief executive officer of Circle, said that the new Circle business APIs would allow businesses to transform their banking infrastructure. They can upload their dollars and enjoy the advantages of digital dollars.
Circle business APIs will give FinTech companies the ability to integrate USDC in their operations. They can not only use it for transaction and storage but also build products using USDC powered APIs. They can interact with other FinTech companies and build mutually beneficial applications that will power their business operations. The ability to build high-performance interactive software components gives FinTech companies an advantage over their traditional software counterparts.
Initially, three APIs will power the Circle Business Account. Firms can accept credit card payments which can further be settled in USDC. Later on, more APIs will be added to the mix.
Featured Image by Twenty20
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Gurpreet Thind
Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.
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