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CIRCLE LAUNCHES ‘CIRCLE PAYMENTS NETWORK’
The new network will use stablecoins such as USDC and EURC to help financial institutions facilitate global money movement and settlement.
USDC Issuer Circle Debuts Payments Network
Stablecoin firm Circle, issuer of USDC which currently has a market capitalization of roughly $61 billion, has launched “Circle Payments Network (CPN),” a collaborative group of financial institutions that use stablecoins to enable global movement and settlement of funds.
The company announced the network launch on Monday and said more than 20 financial institutions have already signed on. Circle listed companies such as remittance giant World Remit, Nigerian financial services firm Yellow Card, and crypto custody firm Fireblocks, as initial partners.
Large banks like Standard Chartered and Deutsche Bank will take on an advisory role, and more companies will be gradually added to the network.
CPN’s goal is to take advantage of the flexibility stablecoins offer to overcome current operational friction in cross-border payments. Circle says CPN will support remittances, invoice payments, treasury services, and payroll.
“Existing cross-border payments can be slow and expensive,” Circle said in an X post. “CPN is designed to bring efficiencies to the payments system. It is not just faster. It is programmable, secure, and always available.”
@ Newshounds News™
Source: Bitcoin News
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TRUMP MEDIA TO LAUNCH ‘A SERIES’ OF ETFS IN NEW PARTNERSHIP WITH CRYPTO.COM
Trump Media and Technology Group (TMTG) announced Tuesday a collaboration with Crypto.com to introduce a series of exchange-traded funds (ETFs) under its Truth.Fi brand.
According to a new press release, the planned ETFs will focus on digital assets and securities, emphasizing a “Made in America” theme, marking TMTG’s entry into financial services.
The company stated that regulatory approval is still required, and the ETFs are expected to debut later this year.
Says TMTG CEO and Chairman Devin Nunes,
“This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great partners, Crypto.com and Yorkville America Digital, and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.”
The partnership also includes Yorkville America Digital, an asset management firm specializing in ETFs and digital assets.
Crypto.com and Yorkville representatives both highlighted the growth potential of this venture.
Says Kris Marszalek, Co-Founder and CEO of Crypto.com,
“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities.
This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital.”
@ Newshounds News™
Source: The Daily Hodl
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