On 10 March, Circle, the company behind the USDC stablecoin, unveiled three new APIs for businesses aimed at helping traditional businesses use USDC as a replacement to traditional fiat channels. The fintech company is backed by Goldman Sachs.
The new APIs target “any business or internet commerce service,” signaling the company’s intention to move outside of the immediate cryptocurrency environment.
The Payments API allows businesses to settle credit card payments for USDC, thus bridging the traditional and crypto ecosystems, while the Wallets API is designed to simplify the storage of stablecoins for Circle customers and provides a layer of abstraction over complex concepts in cryptocurrency such as nodes, gas fees or private keys—while creating workflows for more complex account and sub-account structures that businesses are more familiar with.
The Marketplace APIs provide tools for online e-commerce and digital service platforms.
With the company promising to focus on mass crypto adoption, the release of the new APIs appears to be the first major milestone of the new strategy.
