Circle Internet Financial is the issuer of the USDC stablecoin. This Tuesday, it announced the launch of its very first web service. These include a programmable crypto wallet. It should make it easier for companies to offer their customers crypto payments and the management of their NFTs.
What is Circle’s Programmable Web3 Crypto Wallet?
In his press release of this Tuesday, the issuer of the stablecoin USDC, second largest in terms of market capitalization, announced: The first product in our Web3 Services product line, designed for developers to integrate secure crypto wallets in any application and harness the speed and global reach of Web3 technology for their users. Further, we can read that this new product will make it possible to send, receive and store cryptocurrencies including USDC as well as NFTs.
Regarding the technical specifics of Circle’s new wallet, the company states on Twitter : “ The programmable wallets beta is available on Avalanche, Ethereum and Polygon. Developers can now easily offer Web3 to their users. »
Are stablecoins the future of cryptocurrencies?
Circle is launching its new product just as many companies are trying to give stablecoins more prominence. Indeed, these are digital payment companies that understand the strategic role of this category of crypto. The importance of stablecoins is easily seen since there are two in the ranking of the ten largest cryptos by market capitalization. Indeed, USDT and USDC occupy the third and sixth place respectively.
As a reminder, a stablecoin is a type of crypto whose value is pegged to that of another asset. Thus, most of these cryptos peg to the US dollar. Thus, they allow benefit from its stability while taking advantage of their cryptocurrency nature to overcome the barriers of the traditional financial system. For example, stablecoins are used in several developing countries to store wealth and make payments.
In total, more than 4,000 companies do business with USDC. Since each company and each client is unique, this programmable wallet from Circle should help make operations much easier. So, could USDC gain places in the ranking of the most important cryptos?
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