USDC

<p>In a move designed to enhance accessibility and compliance, Circle, the issuer of leading U.S. dollar stablecoin USDC, has introduced the “Circle Mint” facility.</p><h2 id="header-0">Singapore launch</h2><p>In a recently published blog article on its website, the company <a href="https://www.circle.com/blog/redefining-usdc-access-in-asia-pacific-circle-mint-in-singapore" rel="noopener noreferrer nofollow">outlined</a> that the zero-fee minting service is set to launch initially in Singapore. In June, Circle Internet Singapore, the company’s Singapore-incorporated subsidiary, <a href="https://medium.com/&#64;coinness.gl/circle-makes-inroads-in-singapore-with-license-award-40518c216cf" rel="noopener noreferrer nofollow">secured</a> a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). In this most recent announcement, the firm indicated that given the MPI licensing award, it was most appropriate to launch the service initially in Singapore.</p><p>Circle executives, alongside its co-founder and CEO Jeremy Allaire, were attendees at the Singapore Fintech Festival on Wednesday, an annually organized knowledge platform for the global fintech community. Taking to the X platform, Allaire <a href="https://x.com/jerallaire/status/1724687469260795995?s&#61;20" rel="noopener noreferrer nofollow">stated</a>:</p><p>“It was an honor to host [Singapore President, Tharman Shanmugaratnam] with the &#64;circle team at &#64;sgfintechfest where we officially launched Circle Mint Singapore.”</p><h2 id="header-1">Circle Mint facility</h2><p>Circle Mint Singapore will attempt to strategically position itself as a trusted gateway to the world of digital currencies, emphasizing compliance with MAS regulations. For Singapore-registered entities, the facility offers a range of benefits.</p><p>Rather than a traditional bank account, Circle Mint is a digital wallet that enables users to send, receive and store digital assets. There will be no minting fees as part of the offering. Customers will be able to take advantage of a zero-fee product offering for both the minting and redemption of USDC. The move eliminates additional risks and additional fees, as well as the ability to do away with the lengthy transaction times often associated with brokers and resellers.</p><p>Circle Mint Singapore has been designed to align seamlessly with MAS regulations. In that way, the company can reassure its customer base that financial activities are conducted efficiently, securely and compliantly within the regulatory framework.</p><h2 id="header-2">Instant availability</h2><p>Instant availability is another feature that Circle is enabling through its Circle Mint product offering. Fiat funds from users’ bank accounts can be swiftly and automatically converted to USDC. That’s thanks to the instant settlement networks of participating banks. Circle Mint Singapore is also planning to expand access to regional banking rails for near-instant settlement, streamlining transactions for users.</p><p>As digital currency adoption gains momentum in the Asia Pacific (APAC) region, Circle Mint Singapore’s initiatives have the potential to play a pivotal role in making digital currencies more accessible for businesses in this dynamic market.</p><h2 id="header-3">Asian market emphasis</h2><p>In addition to this latest product offering, other recent activities of the global financial technology firm in recent weeks suggest that it has placed a strong emphasis on market growth in the APAC region.</p><p>In September, the firm <a href="https://medium.com/&#64;coinness.gl/circle-and-grab-partner-to-pilot-web3-app-integration-bfa1c594cff1" rel="noopener noreferrer nofollow">partnered</a> with Southeast Asian super-app Grab. As part of that collaboration, Circle’s Web3 services platform is being integrated into the app to facilitate blockchain-enabled solutions. The move will see Grab’s 25 million users exposed to the facility of a digital wallet within the app.</p><p>Similarly, the following month, Circle followed up with a <a href="https://medium.com/&#64;coinness.gl/circle-partners-with-asian-convenience-store-chain-to-push-usdc-adoption-bf9288e72a1a" rel="noopener noreferrer nofollow">deal</a> with Taiwan FamilyMart, a convenience store chain, and the BitoPro cryptocurrency exchange. Once again, Circle’s Web3 services platform is being integrated, this time into the FamilyMart app, so as to enable the redemption of loyalty points in USDC.</p>

Circle introduces Circle Mint with zero-fee USDC minting

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