Circle And Crossmint Boost Stablecoin Access For Humans & AI Integration
- Circle Ventures partners with Crossmint to expand USDC's compatibility across multiple blockchain networks. The partnership aims to enable near-instant global transfers and AI-driven payment systems. Rising use of stablecoins in high-inflation countries, such as Argentina and Colombia, underscores their importance in preserving wealth. Tether's USDT remains dominant in stablecoin payments, with significantly higher trading volumes than USDC. Crossmint also collaborates with Layer 1 blockchain Tempo to accelerate stablecoin adoption.
Circle's venture arm has recently announced a strategic partnership with Crossmint, a leading provider of crypto infrastructure solutions, to enhance the scalability and interoperability of the USDC stablecoin across various blockchain platforms. This initiative is part of a broader effort to facilitate seamless, near-instant transactions globally, catering to both human users and automated AI systems. Crossmint's Wallets and APIs will serve as the backbone for stablecoin onramps, orchestrating payment flows with increased efficiency and security.
Source: Rodri Fernandez TouzaThe collaboration arrives at a pivotal moment when AI agents are projected to become significant users of blockchain technology, especially within Ethereum 's ecosystem. Experts from Coinbase highlight that AI-driven applications will leverage stablecoins like USDC for various functions-from paying for autonomous taxis to content publishing and data storage-ushering in a new era of decentralized finance (DeFi) and onchain commerce.
Stablecoins as lifelines in high-inflation economiesCountries facing economic instability, such as Argentina, increasingly turn to stablecoins as a safeguard against currency devaluation and inflation. Many residents use“crypto caves” to acquire US dollar-pegged stablecoins to bypass strict currency controls. Similarly, MoneyGram, a major remittance service provider, announced the launch of its crypto payments app in Colombia, utilizing Crossmint's infrastructure to enable locals to receive and hold USDC as an alternative to the peso. This expansion aims to serve over 50 million customers worldwide, bolstering the access to stablecoins as a means of financial stability.
Related: Circle and OKX recently launched zero-fee USDC conversions to USD, further simplifying access for users.
USDT remains the dominant stablecoin in paymentsDespite growing acceptance of USDC, Tether's USDT maintains its market dominance, with nearly $100 billion in trading volume over the past day, compared to USDC's $10.3 billion. USDT's market capitalization also surpasses USDC's, standing at approximately $173 billion versus USDC's $74.1 billion. Its speed and low-cost transfers make USDT a preferred choice in developing countries, with its supply on the Tron network exceeding $80 billion as of June.
New partnerships to foster stablecoin adoptionThis week, Crossmint announced a partnership with Layer 1 blockchain Tempo, an effort to accelerate stablecoin integration and usage. Incubated by Stripe and Paradigm, Tempo's infrastructure aims to further bolster crypto payments and onchain financial solutions, aligning with the broader trend of mainstreaming cryptocurrencies within global financial markets.
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