Circle, the company behind the $60 billion USDC Stablecoin, will launch a new payment and border remittance network on Tuesday from its luxurious New York City headquarters on the 87th floor of one World Trade Center.
The launch event is aimed at banks, fintechs, payment service providers, remittance providers and USDC strategic partners. According to an invitation seen by Coindesk, Circle CEO Jeremy Allaire shares his vision for Stablecoin Giant’s next move.
New and early regulations around the world are opening up the Stablecoin space where Circle shares Limelight with its larger rival Tether. It makes sense for a company that successfully pivots in the Circle – Crypto space to consider consolidating its position and returning to its roots as a payments company.
“Circle is starting a payment network that aims to initially target remittances, but ultimately aims to rival MasterCard and Visa,” said someone familiar with the plan.
Stablecoins has reached a recruitment level where technology can disrupt global remittances in ways similar to WhatsApp and international calls, VC company Andreessen Horowitz said in a recent report.
In a recent interview, Crypto Custody Tech expert Fireblocks noted that billions of people are moved around by payment service providers that use Stablecoins such as USDC and USDT to do things like cross-border payments.
The circle recently appeared in the news after the company announced plans to release it in the US.
Circle did not respond immediately to requests for comment.
