Circle announces global partnership with FTX for comprehensive fiat account funding
By Pavithra R
Circle, a global financial technology firm that provides payments and treasury infrastructure for digital businesses has announced entering into a global partnership with FTX, the world’s fastest-growing crypto exchange.
Under the collaboration, FTX has integrated Circle APIs and launched USD Coin (USDC) payments support across its FTX and Blockfolio services. Building on Circle API Services allows FTX to control their customer experience while enabling payments and payout rails through ACH, international wire transfers and credit and debit cards.
“Circle has been a pioneer in making fiat work on blockchains for nearly eight years and has built deep capabilities to ease payments in crypto. Circle is moving with incredible speed. FTX is one of the fastest growing crypto exchanges in the world. With Circle, we’ve found a very strong partner to build with,” said Sam Bankman-Fried, Co-Founder CEO of FTX.
The alliance enables FTX and Blockfolio customers to now fund their dollar balances with instant access for trading using credit and debit cards in nearly 200 countries, with funds instantly settling in USDC. The seamless ‘fiat-to-USDC’ experience not only enables customers to easily transfer USDC on Ethereum, but also on Solana, a rapidly growing 3rd generation blockchain, enabling on-chain USDC transactions in seconds with no transaction cost.
“FTX continues to impress the world with blazing fast execution and innovation, making it among the most formidable companies in the global crypto ecosystem. With our latest collaboration, we’re continuing to pioneer customer experience for payments and crypto trading, and we are thrilled to continue to build together with Sam and the FTX team,” said Jeremy Allaire, CEO and Co-Founder of Circle.
Founded in 2013, Circle is a global FinTech firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments and commerce worldwide. The firm has introduced next-generation payments processing APIs and has combined the benefits of stablecoins and blockchain with traditional forms of payments like cards and banks.
IBSi Daily News Analysis
August 12, 2022
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