Enterprise adoption of encrypted payments has surged, Circle launches USDC business accounts.

With more and more companies expressing interest in accepting cryptocurrency payments and holding digital assets in their corporate treasuries, USDC issuer Circle has launched a new account service that allows enterprises to transact and pay in cryptocurrency, undoubtedly opening a new door for digital assets.

According to a report by Cointelegraph, Circle has announced that it will allow corporate customers to deposit, withdraw, receive, and store cryptocurrencies, settling all payments in USDC stablecoin. The new account feature by Circle seamlessly integrates business operations with crypto payments, using digital assets as collateral. Accounts can send and receive USDC across eight blockchains, including Ethereum, Algorand, Solana, Stellar, Tron, Hedera, Avalanche, and Flow.

Circle stated that since the launch of Circle Accounts in 2020, active users have increased by 213%, and businesses may choose to adopt USDC for various reasons to enhance operational efficiency.

"The growth drivers of USDC are the expansion of payment scope and user base, cross-border transactions, and the adoption of assets like USDC, which is a 'light to safety,' especially in countries where local currencies are experiencing losses."

Qualified investors can also participate in stablecoin lending programs using Circle Accounts, known as Circle Yield, offering investors an annual return rate of 4% to 6%. Circle mentioned that its revenue products are overcollateralized with Bitcoin, meaning the amount of Bitcoin held exceeds the required amount to cover potential losses in default scenarios.

Circle's USDC is the second-largest stablecoin by market capitalization after USDT and one of the fastest-growing stablecoins. USDC currently has a market capitalization of $52.7 billion, while USDT's market capitalization is $79.4 billion. Circle revised its merger agreement with Concord Acquisition Corp in early February, valuing the company at $9 billion, with both companies expecting to complete the merger by December this year.

This article is authorized and reproduced from Horizon News Network