Circle Internet Financial, LLC, a global internet finance firm that provides internet-based payments and financial infrastructure to businesses of all sizes, and the sole issuer of USD Coin (USDC), today announced the launch of the new Circle Account. Through the comprehensive portal, Circle Account allows business customers to deposit, withdraw, send, receive, store and allocate funds to invest in digital currency to implement their operations in the digital economy.
The new Circle Account comes amid booming interest in digital assets. According to recent research from Gartner in December 2021, 20% of businesses will use “digital currencies for payments, stored value or collateral by 2024.” This increased interest is happening alongside rapid innovation in blockchain technology that promotes faster and cheaper transactions, and as high inflation is prompting some companies to turn to digital assets as a hedge.
As a one-stop-shop to help businesses accelerate their growth and quickly integrate with the digital economy, Circle Account makes it easy to begin transacting with USDC and settle in and out of digital currencies. From 2020 to the end of 2021, the demand for Circle Accounts boomed with active accounts growing 213%. Through Circle Account, institutional accredited investors can allocate funds into Circle Yield* to generate enhanced yield on their USDC by investing it into crypto-capital markets. Circle Yield is a fixed-term investment that is fully-secured and overcollateralized with bitcoin.
"The new, revamped Circle Account is laser focused on delivering an upgraded, dynamic experience to our business customers, making it the go-to destination for payments and treasury activity,"
said Rachel Mayer, VP of Product at Circle.
The new Circle Account offers an upgraded user experience that allows customers to send and receive USDC on eight different blockchains, realize near-instant transfers via Signet and the Silvergate Exchange Network (SEN), download transaction history and view balance summaries and earn returns via Circle Yield – all with increased security and flexibility through new features such as multi-factor authentication and multi-user support. Users can transact with USDC on Ethereum, Algorand, Solana, Stellar, TRON, Hedera, Avalanche and Flow.