Circle and Pockyt Join Forces to Simplify Global Payments with USDC

12/06/2024 03:50
Circle and Pockyt Join Forces to Simplify Global Payments with USDC

Circle partners with Pockyt to launch USDC cross-border payments and programmable wallets, enabling faster transactions for millions of users.

Key Notes

  • Circle and Pockyt join forces to integrate USDC into Pockyt’s payment network, making global payments faster and more cost-effective.
  • The integration provides Pockyt merchants with scalable tools to navigate international markets effectively.
  • The partnership also comes with Circle’s programmable wallets designed to enable businesses to merge traditional payments with blockchain innovations for seamless transactions. .

Circle, the financial services company behind the popular USDC stablecoin, has partnered with payments platform Pockyt to make international transactions faster, cheaper, and more convenient. According to an official announcement, this collaboration introduces USDC $1.00 24h volatility: 0.1% Market cap: $40.27 B Vol. 24h: $14.34 B to Pockyt’s payment network, allowing businesses to embrace stablecoins for both pay-ins and payouts.

A Step Forward in Cross-Border Transactions

USDC is the second largest stablecoin in the industry with $40.25 billion in market capitalization. The digital asset is backed 1:1 by the US dollar, offering businesses a secure and stable way to handle payments without the fear of devaluation. With the new partnership, Pockyt merchants can now use USDC to cut transaction costs and speed up cross-border payments compared to traditional banking systems.

Mason Lin, Pockyt’s CEO said the integration of USDC into the company’s payment network has given businesses the tools to scale their offerings.

“By integrating USDC, we’re helping businesses overcome the challenges of international transactions. This isn’t just about speed and savings—it’s about giving businesses tools to succeed in a global, digital-first economy,” he said.

For merchants, USDC offers faster settlement times and reduced costs, particularly for international transactions. Consumers, on the other hand, gain access to a system that feels familiar while benefiting from blockchain’s efficiency and reliability.

“Integrating USDC with Pockyt is about more than just payments,” said Kash Razzaghi, Circle’s Chief Business Officer. “It’s about showing how stablecoins can simplify global commerce and make it accessible to everyone.”

Bridging Traditional Payments and Blockchain

In addition to the integration of USDC, the partnership was accompanied by the introduction of Circle’s programmable wallets. These wallets blend traditional payment systems with blockchain innovation, creating what the companies call a “Web2.5” experience.

The integration will enable thousands of Pockyt merchants and over a million users to transition effortlessly between traditional and digital payment methods. With programmable wallets, businesses can access tools that simplify global transactions while paving the way for blockchain adoption.

The alliance between Circle and Pockyt is part of a growing trend where stablecoins and blockchain solutions are becoming more mainstream. By working together, the two companies are not just improving payments—they’re reshaping how businesses approach global trade in a digital world.

Meanwhile, the partnership coincides with Circle’s achievement of becoming the first stablecoin issuer to align with Canada’s newly introduced stablecoin regulations. On Wednesday, Circle announced that it had successfully met the regulatory requirements to list USDC in the Canadian market.

However, this milestone comes amid recent workforce reductions at the company. Circle explained that the layoffs are part of a routine evaluation of its investments and expenditures, aimed at optimizing operations as it continues to expand globally.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Chimamanda U. Martha

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

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