back Back

Circle forges new tech partnership with Signature Bank

By Pavithra R

April 20, 2021

Share

Circle forges new tech partnership with Signature BankCircle, a global financial technology firm that provides payments and treasury infrastructure for digital businesses has announced forging a new tech partnership with Signature Bank, a New York-based, full-service commercial bank, by which the bank will become their leading financial institution to hold billions of dollars in reserve deposits related to USD Coin (USDC).

The two firms also committed to a long-term roadmap that will kick off with the integration of Circle into Signet, the Bank’s groundbreaking, blockchain-based, digital payments platform enabling real-time payments. The effort to integrate Circle into Signet will enable possible future integrations of additional Circle products and services within the Bank.

“Adding a respected, forward-thinking financial institution to our USDC reserve network is another step forward in adoption and growth for the world’s fastest-growing digital dollar currency. Integration into Signet will afford many of our commercial customers real-time account USDC settlement 24/7/365,” said Jeremy Allaire, CEO and Co-Founder of Circle.

The collaboration has furthered Signature Bank’s reputation in the industry. 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. It has more than $13 bn on deposit at FIs today as reserves for USDC-issued tokens.

“Many of our digital asset-based commercial clients have been requesting we include Circle in the Signet ecosystem. We look forward to completing this integration in the coming months. We will also seek to leverage this technical integration into future partnerships and service offerings, further strengthening the Bank’s leadership position in the digital asset space and adoption and use of USDC stable coin,” said Signature Bank President and Chief Executive Officer Joseph J. DePaolo.

Previous Article

April 20, 2021

UAE Trade Connect launches digital trade platform with 7 banks

Read More
Next Article

April 20, 2021

China Brilliant Global aims to own the world’s first Supply Chain Digital Bank

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

TISA goes live with Oracle’s core banking system, Flexcube 14.7

Read More

Today

Thinslices partners with SaaScada

Read More

July 15, 2024

Thought Machine and Quantifeed partner to modernize banking

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024