Chainlink, Circle partner to boost USDC, EURC integration


Chainlink , a decentralized computing platform, and Circle , a global financial technology firm, have partnered to enhance stablecoin utility for enterprise institutions

Chainlink , a decentralized computing platform, and Circle , a global financial technology firm, have partnered to enhance stablecoin utility for enterprise institutions. This collaboration will focus on integrating Circle's developer platform with Chainlink services to support the development of applications using USDC and EURC.

Over the past two and a half years, Chainlink price oracles have facilitated over USD 1.3 trillion in USDC transaction value across six blockchains, significantly impacting DeFi markets. Earlier this year, Chainlink announced support for USDC via Chainlink CCIP, enabling secure cross-chain transfers and expanding DeFi to CCTP-supported chains. The partnership aims to educate developers on Circle's Programmable Wallets and Smart Contract Platform, as well as Chainlink's services like CCIP, Data Feeds, and Proof of Reserve.

This initiative is intended to equip developers with the necessary tools to leverage USDC and EURC for building secure and interoperable applications. Chainlink is a decentralized computing platform providing real-world data, offchain computation, and secure cross-chain interoperability. It has facilitated over USD 10 trillion in transaction value and supports various sectors including banking, DeFi, global trade, and gaming.

Circle is a financial technology firm that leverages digital currencies and public blockchains for payments and financial applications. It is the issuer of USDC and EURC, providing a platform and APIs for businesses to manage payments, develop Web3 applications, and handle internal treasury operations. More information can be found on their respective websites.

Launching in Brazil Circle has also recently launched in Brazil. This expansion aims to bring USD-backed digital dollars and digital asset infrastructure to Brazil's fintech ecosystem. Circle is partnering with regional entities such as BTG Pactual and Nubank to provide near-instant, low-cost access to USDC for users throughout the country.

Circle's entry into the Brazilian market comes during a period of increased fintech adoption, driven by the introduction of the instant payment platform Pix in 2020. With over 160 million users familiar with digital wallets, stablecoins currently account for approximately 90% of crypto transactions. Circle plans to work with various companies to make digital dollars widely accessible through USDC, contributing to the development of Brazil's financial landscape.

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Jun 03, 2024 09:25
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