Banking Circle Accepts USDC Stablecoin

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A significant U.S. dollar-pegged stablecoin is being adopted for payment rails by Banking Circle, a European bank that specializes in cross-border payments.

The company formally stated on Friday that the USD Coin (USDC) would be accepted, processed, and settled for payments on its platform.

The new payment capability, which is available as part of Banking Circle's new service aimed at banks and payment providers, enables them to process payments outside of conventional banking channels.

One of the crypto liquidity providers for Bank Circle will be Coinbase, a significant cryptocurrency exchange in the United States, according to the release.