Chainlink, a platform for decentralized computing, and Circle, a global financial technology firm, have teamed up to enhance the utility of stablecoins for enterprise institutions. This collaboration aims to integrate Circle’s developer platform with Chainlink services, focusing on supporting applications using USDC and EURC stablecoins.
Over the past two and a half years, Chainlink’s price oracles have facilitated more than $1.3 trillion in USDC transaction value across six blockchains, making a significant impact on DeFi markets. Earlier this year, Chainlink also announced support for USDC through Chainlink CCIP, enabling secure cross-chain transfers and expanding DeFi capabilities to CCTP-supported chains.
Partnership to Enhance Stablecoin Utility: Chainlink and Circle Collaboration
Chainlink, a decentralized computing platform, and Circle, a global financial technology firm, have joined forces to educate developers on Circle’s Programmable Wallets and Smart Contract Platform, alongside Chainlink’s services such as CCIP, Data Feeds, and Proof of Reserve. This initiative aims to empower developers with the tools needed to build secure and interoperable applications using USDC and EURC stablecoins.
Chainlink is renowned for providing real-world data, off-chain computation, and secure cross-chain interoperability. It has facilitated transactions exceeding $10 trillion and supports diverse sectors including banking, decentralized finance (DeFi), global trade, and gaming.
Circle specializes in leveraging digital currencies and public blockchains for payments and financial applications. As the issuer of USDC and EURC, Circle provides platforms and APIs that enable businesses to manage payments, develop Web3 applications, and handle internal treasury operations. More information can be found on their respective websites.
Circle Expands into Brazil with USDC Initiative
Circle has recently launched its operations in Brazil, aiming to introduce USD-backed digital dollars and digital asset infrastructure into the country’s fintech ecosystem. This expansion involves partnerships with regional entities like BTG Pactual and Nubank to offer near-instant, low-cost access to USDC for users across Brazil.
Circle’s entry into the Brazilian market coincides with a period of increasing fintech adoption, spurred by the introduction of Brazil’s instant payment platform, Pix, in 2020. With over 160 million users familiar with digital wallets, stablecoins currently dominate approximately 90% of crypto transactions in the country. Circle plans to collaborate with various companies to ensure widespread accessibility of digital dollars through USDC, contributing to the growth of Brazil’s financial landscape.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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