Maxtrixport, Asia’s largest crypto neobank, announced today a new partnership with global financial technology company Circle to enable international bank wire transfers to Matrixport accounts, with automatic settlement in USDC.
Funds settled in USDC can be used for crypto investment and trading. Matrixport allows investors to purchase Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. Matrixport investors can also earn annual interest on deposits, starting at 11% APY for crypto investments. The partnership between Matrixport and Circle lays out a path for thousands of new users who are looking to join the cryptocurrency ecosystem with the reliability and assurances of USDC.
“We constantly strive to provide our customers with simple and effective ways of getting into the crypto investment landscape. Adding Circle to our payment infrastructure offers our users around the world a streamlined way to go from bank to crypto quickly and securely, relying on USDC as a core treasury and settlement infrastructure” said Matrixport Co-founder and CEO John Ge.
The partnership comes as demand for USDC continues to surge, with more than $16 billion USDC now in circulation, growing 30x over the past 12 months and over 400% since January of this year. Stablecoins help facilitate investment, payments, and settlement in the broader cryptocurrency market, with the total crypto market cap up more than 200% since the beginning of 2021.
“We have continued to see huge growth in the crypto sector and by partnering closely with Matrixport, this gives Circle a unique opportunity for reaching customers in Asia and around the world,” said Circle Co-founder and CEO Jeremy Allaire.
To celebrate the new strategic partnership with Circle, Matrixport is offering all new users a 30% APY welcome offer on USDC fixed income products for 21 days.
Established in February 2019 by Jihan Wu and John Ge, Matrixport is a digital asset financial platform that offers simple and accessible crypto financial products to retail and institutional investors worldwide.
It provides one-stop crypto financial services including institutional custody (Cactus Custody), spot and leveraged trading, fixed income, structured products, lending, and asset management. Matrixport currently has more than $10 billion in client assets and is among the fastest-growing crypto financial services platforms in the world. Learn more at https://www.matrixport.com/
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Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce, and financial applications worldwide. Circle’s platform has supported more than 100 million transactions by more than 10 million retail customers and more than 1,000 businesses.
Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest-growing, regulated, fully reserved dollar digital currency. USDC now stands at more than $16 billion and has supported over $500B in transactions over the past year.
Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commercial applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com