Institutional Adoption of Digital Dollars Advances Crypto’s Coming of Age - Aliens: AI Crypto News & Markets Updates
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Institutional Adoption of Digital Dollars Advances Crypto’s Coming of Age

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USDC

Thu, Apr 28, 2022

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Innovations like USD Coin (USDC), one of the fastest growing dollar digital assets in the world, are gaining traction because of the potential to change our current financial system.

Circle has made several announcements in the past month underscoring exciting developments in crypto adoption – here’s a brief explainer of what they mean: Building Bridges to Traditional Finance Circle has selected BNY Mellon to be a primary custodian for USDC reserves .

BlackRock and BNY Mellon’s involvement in Circle shows growing institutional conviction in USDC – which provides financial innovation while maintaining trust, stability and resilience.

USDC in Traditional Payments Singapore-based FOMO Pay became the first major payment institution in Southeast Asia to integrate USDC into its services – allowing merchant, corporate and financial institution clients to seamlessly convert between USDC and fiat currency.

Circle Impact’s efforts to boost financial inclusion by allocating a share of USDC dollar-denominated reserves to often underrepresented Minority-owned Depository Institutions (MDIs) and Community Banks, and establishing a Digital Finance Literacy Initiative at Historically Black Colleges and Universities like Bowie State University is another example of how stablecoin technologies can be a force for good.

It’s Circle’s hope that USDC and other blockchain innovations continue to make a positive impact.

Circle will also continue to champion the U.S. dollar as the currency of the internet through USDC, reinforcing the United States’ leadership in principled innovation and competition in the financial sector.

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