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30 July 2020

Circle Partners with Genesis Trading for USDC Yield and Lending Services and Raises $25 million from Digital Currency Group

Today Circle announced it is partnering with Digital Currency Group (DCG) subsidiary Genesis Global Trading to develop yield and lending products for USDC. The partnership also includes a $25 million strategic investment from DCG to accelerate investment and growth behind Circle’s new suite of business accounts and platform services.

Why it matters: - Circle is going full force with its stablecoin business after selling nearly every non-USDC related business in their portfolio. - The news is Circle's latest effort to drive USDC adoption after announcing its USDC business accounts and API in March.

On Tuesday, the Organisation for Economic Co-operation and Development (OECD) revealed that global tax authorities uncovered EUR 10 trillion ($11 trillion) in offshore financial accounts after obtaining data on over 84 million financial accounts held offshore by their residents. The information exch...
According to a press release, Circle will add support for USDC on Algorand. The move will enable “customers of Circle Business Accounts and Circle APIs to easily move funds between traditional banks and card networks to digital dollars on the Algorand blockchain.” Algorand will be the first blockcha...
Coinbase has invested 1 million USDC into the ETH/USDC Uniswap pool and 100,000 into PoolTogether as part of its effort to provide more liquidity in DeFi. Coinbase is a part of the Centre Consortium along with Circle that launched USDC in 2018. Last fall, they announced the creation of a Bootstrap F...

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