EUregulated firm Banking Circle adopts USDC stablecoin

Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails.The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method. The new payment feature is enabled as part of Banking Circle’s new service targeting banks and payment providers, allowing them to facilitate payments outside traditional bank rails.Coinbase, a major cryptocurrency exchange in the United States, will be one of the crypto liquidity providers for Bank Circle, the announcement notes.The USDC adoption by Banking Circle is positioned as a “key step in democratizing global finance”.