Fun

Stablecoin Savings: Circle Launches High Yield USDC Accounts for Businesses

News Feed - 2020-11-07 01:11:16

Stablecoin Savings: Circle Launches High Yield USDC Accounts for Businesses


Two years ago the cryptocurrency firm Circle announced the launch of USDC, a stablecoin pegged to the U.S. dollar. This week, Circle revealed the launch of high yield digital dollar business accounts with APY up to 10.75%. On September 26, 2018, Circle and the Centre open-source consortium launched an ERC20 token called USD Coin or USDC. At the time of publication, USDC is the 12th largest blockchain in terms of market capitalization with $2.8 billion circulating today. Under tether (USDT), USDC is the second-most popular stablecoin. “USDC is the first of several fiat tokens Centre expects to deliver, and Circle is the first of several forthcoming,” Circle stated at launch.


On November 5, 2020, Circle’s official Twitter account tweeted about USDC business accounts that offer high yield returns. “Circle is planning to introduce short and medium-term high yield interest rate business accounts built entirely on USDC. Starting at 8% APY, make sure to secure a spot on the waitlist today. Restrictions will apply,” the firm tweeted. The waitlist web page states: “Secure a spot on the waitlist for high yield digital dollar business accounts. Talk with us to explore short and medium-term high yield interest rate accounts built entirely on USDC so you are first in line when the service becomes available.” The open term APY offer of 8.50% says that it offers no withdrawal limits and account holders can access their digital dollars at any time. A fixed term of 12-months can accrue 10.75% and six months can get 10.25%. “Interest payments are paid out weekly and accrue daily” and the process is “natively integrated into your Circle Account and customizable through Circle APIs,” the company’s website details. Most all cryptocurrencies like bitcoin (BTC), bitcoin cash (BCH), and ethereum (ETH) can be leveraged in high yield interest-bearing accounts through various outlets. Yet stablecoins, no matter the flavor, typically accrue much higher interest rates.


What do you think about Circle introducing high yield digital dollar business accounts with USDC? Let us know what you think about this subject in the comments section below. "Bond King" Jeffrey Gundlach: Stock Market Will Crack Pretty Hard, Bitcoin Good Inflation Hedge NEWS | 20 hours ago Bitcoin"s Market Cap Is More Valuable Than the IMF"s Special Drawing Rights Reserves NEWS | 1 day ago Tags in this story APY, centre, Circle, Circle Financial, Cryptocurrency, Digital Currencies, Fixed Term, High-yield accounts, High-yield interest, Open Term, Stablecoin, Stablecoin Economy, Stablecoin Savings, Stablecoins, Tether, usd coin, USDC, USDT


Image Credits: Shutterstock, Pixabay, Wiki Commons, Circle, Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Tristan Greene5 hours agoBitbuy enters strategic partnership with Canadian crypto ATM firm LocalcoinLocalcoin ATM will also be expanding its range of cryptocurrency offerings and launching a wallet app.1205 Total views32
As Lightning’s Economy Takes Shape, Devs Are Split on Proposed Fee Hike
Fees aren’t just a topic of discussion for bitcoin users anymore. As the tech matures and an economy develops, fee discussions are making their way into the lightning network too.
KryptoPips Creates the World’s First Multi-Broker Rewards Coin to Reward Various Trading Activities and Deliver Client Value
KryptoPips Creates the World"s First Multi-Broker Rewards Coin to Reward Various Trading Activities and Deliver Client Value press release PRESS RELEASE.KryptoPips, the world’
Arbitrum DAO removes proposal to fund Tornado Cash devs’ legal bills
Ana Paula Pereira2 hours agoArbitrum DAO removes proposal to fund Tornado Cash devs’ legal billsAn Arbitrum spokesperson confirmed that the proposal to fund Tornado Cash developers’ legal defense had been deleted at
Dogecoin Confirms Daily Trend Reversal With Breakout, Retest And New Uptrend
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’
Kevin O"Leary on SEC v Ripple Lawsuit Over XRP: "I Have Zero Interest in Investing in Litigation Against SEC" Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has z
Despite 23% gains, Bitcoin options traders still not bullish
Marcel Pechman4 hours agoDespite 23% gains, Bitcoin options traders still not bullishDemand for Bitcoin options has been balanced between bulls and bears, meaning whales remain unconviced.3241 Total views104 Total shares
Over Half of This Year’s Financial Pyramids in Russia Involved Crypto, Bank of Russia Finds
Over Half of This Year’s Financial Pyramids in Russia Involved Crypto, Bank of Russia Finds A majority of the financial pyramids identified in 2022 used cryptocurrencies in one w
Funko Partners With Walmart to Drop DC Digital Collectibles and Physical Twin Counterparts
Funko Partners With Walmart to Drop DC Digital Collectibles and Physical Twin Counterparts Funko has teamed up with the multinational retail corporation Walmart and the American fi
David Attlee47 minutes agoUzbekistan permits two banks to issue crypto cardsKapital Bank and Ravnaq Bank got approval from the National Agency for Perspective Projects to participate in the digital sandbox of crypto regu
Jesse Coghlan8 hours agoBitcoin traders wipe Grayscale gains after SEC delays spot ETF decisionsThe price of BTC rose sharply and fell almost as fast over the past three days amid two recent events impacting pending appl
Marcel Pechman6 hours agoBitcoin futures open interest at 2023 high while BTC trading volume at yearly low — What gives?BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have sh