Circle partners with maps platform to enable in-app USDC transactions

Jun 17, 2021 | The Block News | 0 comments

A new collaboration between peer-to-peer payments company Circle and offline maps application will enable users to make instant international and in-app payments using Circle’s dollar-pegged stablecoin, USD Coin (USDC).

The mobile app provides offline maps using OpenStreetMap data. The new partnership will allow users to make stablecoin payments to partners in over 35 countries, using a linked credit or debit card. Users will also be able to buy and hold USDC and MAPS tokens in a digital wallet.

“Stablecoins and DeFi are going mainstream and Circle is a natural partner for the ecosystem in driving mass adoption,” Co-founder Alex Grebnev said in a statement. “We know that’s large and highly engaged user base is looking for instant, secure, and easy-to-access financial services that are relevant to their needs.”

According to the announcement, participants in the crypto program will also get access to more deals on, like cashback on travel reservations and discounts on telecom plans. “This partnership with Circle accelerates our ability to deliver the benefits of DeFi and put people in charge of their financial lives, just like they are in charge of their travel,” Grebnev said.

Circle’s USDC is the second most popular stablecoin behind Tether’s USDT. Its market cap has grown by five times since the beginning of this year. Meanwhile, an increasing number of companies and exchanges are integrating support for stablecoins, and the total supply of stablecoins exceeded $100 billion late last month.

According to Circle, this year USDC has facilitated “billions of dollars in on-chain economic activity” and is “providing financial access for thousands of customers around the world.” The partnership with is part of making the stablecoin into a “seamless payment tool around the globe,” reads the announcement.

“Our two companies share a commitment to transforming money into an internet experience that allows users to send, share, pay and invest as simply and freely as email, text messaging, or social media,” Circle co-founder and CEO Jeremy Allaire said in a statement. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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