BITCOIN AND CRYPTO

Circle Has Introduced a Regulated Cryptocurrency Yield and A Treasury Solution

Circle | June 28, 2021

Circle, a worldwide financial technology business, announced today the introduction of Circle Yield, a well-regulated crypto yield and treasury solution for companies and corporate treasury professionals. This approach, regulated by the Bermuda Monetary Authority (BMA), draws on Bermuda's long history of leadership and reputation in the organisation of institutional capital. The expansion of BMA supervision to cover the newly released high yield offering under Circle's Class F ("Full") DABA licence, which was originally issued in 2019, represents a major expansion of Circle's offerings, as well as the forms of institutional capital formation currently available in Bermuda.

With more than $100 billion in risk capital regulated in Bermuda, Circle has long been native to one of the world's most influential and innovative risk capital markets for the insurance, reinsurance, and captive industries. Now, Circle is providing a well-regulated alternative yield market for institutional investors and corporate treasurers headquartered in the United States and Switzerland. Under the jurisdiction of the BMA, Circle's high yield solution gives institutional investors with an early access opportunity to leverage yield producing possibilities in a secure, sound, and compliant way in support of high growth digital assets and crypto marketplaces.

Throughout this early access period, Circle Yield will also be limited to companies based in the United States or Switzerland, as well as institutional investors, and the company will continue to collaborate with the BMA and the Government of Bermuda to ensure ongoing responsible financial services innovation trying to serve institutional clients from a competitive Bermuda-based regulatory platform.

"Circle was the world's first fintech firm to acquire the BMA's Class F ("Full") DABA licence, and we have remained deeply committed to Bermuda and developing the future of money and payments on the Internet ever since, with Bermuda playing an essential role in our worldwide operational platform. With the launch of Circle Yield and our recent strategic capital raise, we look forward to expanding our operations in Bermuda to support significant corporate treasury demand for crypto assets and yield, while also supporting Circle's overall market expansion strategy "Circle's co-founder and CEO, Jeremy Allaire, stated.

"Circle is a genuine forerunner in the blockchain economy.
Their decision to establish the world's first regulated institutional yield product in Bermuda demonstrates the attractiveness of Bermuda's regulatory environment and our regulator, the Bermuda Monetary Authority. It demonstrates how major firms like as Circle are capitalising on Bermuda's long-standing reputation as one of the world's most creative financial services centres to spark a revolution in the Internet of value. Circle has been a driving force behind this effort, and we are grateful that the company calls Bermuda home and continues to invest on the island "Bermuda's Premier, the Honorable David Burt, stated as much.

About Circle
Circle is a global financial technology startup that enables organisations of all sizes to leverage the power of stablecoins and public blockchains for payments, trade, and financial applications throughout the world. Over than 100 million transactions have been completed on Circle's platform by more than 10 million retail consumers and more than 1,000 companies. Circle is also a key creator of USD Coin (USDC), which, along with Coinbase and the Centre Consortium, is in charge of overseeing the standards and protocol for what has become the fastest growing, regulated, completely reserved dollar digital currency. USDC currently has a market capitalization of more over $25 billion and has enabled around $700 billion in transactions over the last year. Circle's transactional services, business accounts, and platform APIs are already spawning a new generation of financial services and commerce apps that offer the promise of increasing global economic success for all through programmable internet commerce.

Spotlight

FDI (Foreign Direct investment) is to allow foreign companies to invest in retail sector of India. To improve the economic status of India, the present government has allowed FDI in India. It has accepted that 100% FDI can be implemented in case of single brand store and 51% in multi brand stores...

Spotlight

FDI (Foreign Direct investment) is to allow foreign companies to invest in retail sector of India. To improve the economic status of India, the present government has allowed FDI in India. It has accepted that 100% FDI can be implemented in case of single brand store and 51% in multi brand stores...

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