Circle Launches New Programmable Web3 Wallet Platform

• Circle has announced that the public beta version of its service is now accessible.
• Users may transfer, receive, and store cryptocurrencies via the new wallet.

Circle Internet Financial, the firm behind the USDC stablecoin, launched a new programmable web3 wallet platform on Tuesday with the goal of assisting companies in accepting digital-asset payments from clients.

Users may transfer, receive, and store cryptocurrencies such as Circle’s USDC stablecoin and non-fungible tokens (NFTs) via “programmable wallets” that can be integrated and customized by developers and merchants.

Facilitating Crypto Payments

Circle has announced that the public beta version of its service is now accessible for developers on the Ethereum (ETH), Avalanche (AVAX), and Polygon (MATIC) networks, with plans to add support for other blockchains later this year.

The launch of Circle’s new product coincides with a push by the cryptocurrency industry to mainstream stablecoin transactions.

Stablecoins are a kind of cryptocurrency whose value is pegged to a fiat currency, usually the U.S. dollar. They are an essential component of the architecture that integrates conventional payment systems with the digital-asset sector and are worth $128 billion.

Circle CEO Jeremy Allaire stated:

“This new platform marks the first step for Circle’s Web3 services as we work to ease common pain points for developers, remove friction from value exchange, deliver more seamless user experiences and help drive blockchain-powered wallet adoption.”

After Hong Kong’s new crypto law went into effect earlier last month, the CEO has been keeping a careful watch on any regulatory changes. While the United States is cracking down on cryptocurrencies, several firms in the industry are focusing their efforts on Asia.

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