Singapore fintech Nium chooses Coinbase for integration $USDC Send and receive stablecoins in over 190 countries through a single platform and make payments to a global network for conversion to fiat currency.
According to Tuesday’s announcement, the integration will use Coinbase’s infrastructure for storage, liquidity, and wallet services, allowing Nium customers to fund cross-border payments. $USDC You can settle in stablecoins or local currencies without relying on pre-funded accounts.
Nium said the setup supports just-in-time payments, allows funds to be deployed at the time of payment rather than being held across multiple jurisdictions, and also includes the option to link stablecoin balances to card programs for real-world spending.
Nium says its network supports more than 100 currencies, with local collection in 40 markets, real-time payments in more than 100 aisles, and more than 40 regulatory licenses around the world.
This development follows the recent launch of a platform that allows businesses to issue stablecoin-funded cards on the Visa and Mastercard networks, with balances converted to fiat currency at the point of sale and settlement, and compliance and integration handled through a single system.
US dollar coin ($USDC) is a USD-pegged stablecoin launched by Circle and Coinbase in 2018, designed to maintain a 1:1 value with the dollar, and backed by cash and short-term US Treasury reserves.
According to data from DefiLlama, it is the second largest stablecoin in terms of market capitalization, after Tether, with a market capitalization of approximately $78 billion. $USDT ($USDT), the amount is approximately $188 billion.
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The circle expands $USDC Use in cross-border payments
The circle has expanded $USDCThe company’s role in cross-border payments through a series of partnerships aimed at integrating stablecoin payments into existing financial networks.
In March, the company partnered with Sasai Fintech to expand its business. $USDC Payments across the African Corridor for remittances, business transactions and mobile wallets. Remittance costs exceed 7% in parts of sub-Saharan Africa, well above the UN target of 3%.
Earlier this month, Circle partnered with Thunes to expand its business $USDC It enables payments across global payment networks, reducing reliance on pre-funded accounts while enabling near real-time cross-border remittances. Integration grows $USDCProvides based liquidity across Thunes’ network spanning over 140 countries.
Recent data shows an increase $USDC Activities. According to a CEX.IO report earlier this month, stablecoin supply increased by about $2 billion in the first quarter, while Tether supply increased by about $2 billion. $USDT decreased by about $3 billion, marking the first time there has been a divergence between the two since 2022.
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