Circle cryptocurrency app

Money transfer apps, also called peer-to-peer P2P apps, let you transfer cash from one person to another quickly and securely. They simplify payments and also allow you to use a digital wallet to link your credit card or bank account. You can make electronic transactions and payments with just a few taps on a mobile device. The best money transfer apps collect high app store ratings, help app shoppers shell out money safely, and involve no hidden fees. They also fit consumer-specific needs, such as international payments, social options, virtual wallet offerings, and more. The app's robust offerings, mixed with speed and convenience, put it squarely in the winner's circle.

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Cryptocurrency company Circle to go public in SPAC deal

If you should be a part of the community of Afridigest Thought Circle experts, sign up here. Do you expect more companies to build out Africa-focused blockchain- and crypto-based capabilities in the coming years, and if so what solutions have the most exciting upside in your view? The platform announced earlier this year that Nigeria is its biggest market with over 1. Africa is teaching us about the true use cases of Bitcoin and the opportunity it presents for greater financial inclusion.

In terms of exciting applications, Africans are using crypto both to satisfy personal finance needs and for entrepreneurial ventures — this includes remittance, e-commerce, payments, wealth preservation, and social good. The potential of blockchain is also massive as it impacts contract management, gaming, land registry, supply chain, and logistics tracking. Traditional methods of making monetary donations have proved to be problematic as many individuals lack trust and visibility as to where their money goes.

The blockchain not only provides complete transparency, but also minimizes the exchange costs and delays associated with traditional banking. Its products include Buycoins, a cryptocurrency exchange; Buycoins Pro, an orderbook for advanced trading; Sendcash, a platform for crypto powered remittances; Sendcash Pay, a suite of developer tools for integrating cross-border payments; and NGNT, a collateral-backed Nigerian Naira stablecoin.

Cryptocurrencies and blockchain technologies in general will leapfrog legacy systems because they offer vastly superior experiences and have the potential to eliminate a lot of the traditional challenges like market fragmentation that are commonplace on the continent.

As a corollary:. Platforms are taking advantage of decentralized finance and crypto to make it easier for Africans to hedge against fiat currency devaluation, create crypto-based accounts among many other things. Remittance products are leveraging crypto to enable Africans both at home and in the diaspora to move money across borders faster and cheaper than the alternatives. Crypto trading and investment tools are providing Africans with unrivaled access to a broad range of digital assets such as tokenized coins and stocks, NFTs, etc.

Processing payments via blockchain rails is allowing African merchants, and freelancers to get paid without friction from anywhere and anyone in the world. Organizations and political outfits are coordinating more efficiently with DAOs, accepting and disbursing crypto donations more transparently in the process.

However despite these encouraging beginnings, at Helicarrier, we are aware that to fully realize the potential of crypto, the underlying infrastructure that will power it must be built. When this is achieved, even more promising opportunities will be uncovered. It's still day 1! Founded in as crypto startup BitPesa, AZA Finance has since expanded to offer a full suite of foreign exchange, payments, settlement, and treasury services across all major African and G20 currencies using hybrid financial infrastructure.

Blockchain has tremendous potential to transform the African continent in numerous areas. The area most recently making headlines and the one I am most excited about is blockchain-based digital currencies and payment solutions. Digital currencies solve many disparities of working with major and local currencies, especially relevant for the numerous conversions needed to send money across Africa and the world. This continental disconnect is driving businesses and investors to seek out alternative payment options, including digital currencies.

Using digital currencies allowed us to overcome infrastructure challenges and offer rapid payments in nearly all African and G20 currencies. We view digital currencies and digital finance as being two sides of the same coin.

While we have transitioned to focus more on digital finance and offering currency pairs without needing to always use digital currencies, digital currencies remain an instrumental tool for businesses to facilitate payments in Africa.

I am excited to see how more companies and startups, both on the continent and abroad, can use digital currencies to expand their businesses. Blockchain technology can influence a variety of business processes in Africa and can also change how people view their everyday life processes. This means that it can not only change business on the continent, but also change the mindset the people have towards each other and how they interact.

More specifically, Blockchain can have a positive impact on the following:. Customs clearance. Implementation of the African trade agreement is still in its early stages, and customs processes vary across Africa. Countries, trading blocs, and even individual ports have their own procedures, which can involve hundreds of documents, information exchanges, and supply chain actors. This red tape, typical of traditional customs systems, is a key impediment for small and medium-sized enterprises, or SMEs, that are ready to enter global trading networks but do not yet have the back-office capacity or financial resources to navigate the intricacies of bureaucracy.

This, in turn, extends the economic benefits of trade to a wider swath of society, boosting the sales and incomes of small-business owners, including women and young people. One such platform, TradeLens, allows traders to upload documents to a single chain and track the progress of their paperwork and shipments. This and other blockchain-enabled systems have the potential to reduce risk, time, and money for cross-border traders in African countries, opening up markets to a broader set of actors.

The ability to accurately track cross-border shipments is crucial to the verifiability of standards and certifications, as well as the reliability and timeliness of delivery. While various standards exist to help ensure quality control and compliance, traditional methods of tracing are opaque, lack standardization, and are susceptible to interference and fraud. As such, the potential economic benefits of certification to producers often remain unrealized, making investments in higher-quality and more sustainable products an unjustified business expense.

Blockchain has shown great promise in increasing transparency to overcome these obstacles. Its open-source yet secure nature allows companies to assign and verify certifications easily while facilitating audits of data within the system.

E-payments and trade finance. In any given trade transaction, exporters, importers, and banks engage in a complex flurry of financial assurances and exchanges of legal paperwork to show both sides that the other will make good on the deal.

This paper-based system delays both the movement of goods and the payment cycle for such transactions. Blockchain technologies streamline ways that organizations can track and verify the authenticity of such documentation, reducing transaction time and cost.

Again, this development will disproportionately benefit entrepreneurs and SMEs that have less capacity to deal with this red tape and often do not have access to the working capital necessary to weather the delays in payment common under the status quo. Inclusive supply chains. Electronic blockchain-based transactions also facilitate access to finance for smallholder farmers and other upstream actors, including those without bank accounts. Africans have started initiatives to demystify blockchain technology by creating training centers like the Africa Blockchain Center that provide resources and trainers to enable others to understand the technology in depth.

Products include cryptocurrency exchange Bitmama. Currently, across Africa, one of the easiest areas for blockchain to fully maximize its disruptive potential is the finance sector. There is a great need for equitable redistribution of wealth, wealth transfer, and the building of wealth.

There is also the need to have access to financial freedom. P2P cryptocurrency transactions transfer the control of money from the hands of traditional institutions like banks to the people, who can decide with whom they want to transact and their preferred buy or sell rates.

Decentralized Finance broadens the scope of what users can get from the blockchain, giving them access to lending, staking and insurance, covering the entire spectrum of finance. And NFTs give users the ability to create digital collectibles that express different aspects of their lives, ranging from identities, real estate, art, music and even games.

No one wants to be left behind, therefore more companies will build Africa-focused blockchain and crypto-based capabilities. However, most of the initial solutions will likely be crypto and finance-based. I am looking forward to a world where cross-border intra-Africa trade and travel becomes easier and faster, and blockchain solutions have a role to play here. Send it to someone who should be reading it. The adoption on the continent is being driven by crypto's ability to solve real problems that people across the continent face every day.

That's why you see such fast-paced growth of the industry in countries like Nigeria, South Africa, and more. The reason we're most excited about what we're doing is because we're bringing people into this space. It isn't always easy to access Bitcoin in the first place and enter the crypto space for people in Ghana or Uganda, for example.

We're providing people that access to start their journey in the industry and find incredible projects and solutions. It allows users to trade prepaid airtime credits for cryptocurrency, effectively providing borderless banking infrastructure that uses mobile airtime as currency. And as a result, many Africans had better wireless communications for a time before many Western Nations.

Non-Fungible Tokens or NFTs as they are commonly referred to are unique and non-interchangeable units of data stored on a digital ledger. NFTs can be used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, with blockchain technology used to establish a verified and public proof of ownership.

With regards to Africa, I believe they represent a significant opportunity for a new generation of content creators to directly engage and monetize their creations with fans and consumers. Decentralized Finance or DeFi is comparable in that it is enabling Africans to leapfrog legacy banking and financial rails for transfer of value, not just money.

Obviously, there are many bottlenecks across the global financial system especially as it relates to Africa, but with the use of blockchain and the use of DeFi, many opportunities are now broadly available to anyone in Africa with a smartphone: payment, savings, investment, and more with no friction.

I think the challenge for both NFT and DeFi adoption across Africa is how they are or how they will be simplified for market adoption. For example, could they be incorporated into existing ecosystems like airtime credit sales which nearly everyone is familiar with? Or what if instead of waiting for payday, I can be paid by the hour? Or what if as a content creator, I can be paid in real-time while my content is being consumed? I believe technology that makes streaming payments possible will have a massive impact on so many business use cases in Africa.

And in terms of my future expectations, I do expect to see more Africa-focused services built on blockchains — a lot of the existing blockchains already have most of the tools we need to solve our problems today, we just need to build layers on them that make it easy for everyone to use. Africa is one of, if not the most promising region for the adoption of blockchain technologies such as cryptocurrencies due to its unique combination of economic and demographic trends.

However, the continent still undoubtedly requires significant investment in crypto-specific infrastructure as well as its internet and electricity networks, but should more progress continue to be made in these areas, cryptocurrencies could definitely become the gateway to a new and better lease of life on the continent. This statistic is a cause for concern, especially when you consider its impact on two of Africa's largest economies and most dynamic business hubs.

However, with one global ledger system that synchronizes across the entire internet, the blockchain which underpins cryptocurrencies could provide the secure, instant and nearly-free option that cross-border payments need to thrive. The decentralized nature of the technology means not only that everyone can access the same ledger account in real-time no matter who or where they are, but also that money can easily be transferred between parties without all the lag times and exorbitant fees.

Equally, blockchain could play a huge role in transforming financial inclusion across the continent, especially in the informal economy. This is limiting a huge section of the economy to trading within their immediate circles.

However, as a decentralized platform open for anyone to use, blockchain technology not only offers lower barriers and a more inclusive system, but also makes it economically viable to onboard this section of the economy. Offering access to a new segment of customers could not only enhance the growth of these businesses directly, but could also act as a major boost to the economies of their residing countries.

As they scale, these innovations could deliver new access to a majorly underserved customer base and mark a huge advancement in financial inclusion on the continent. The potential for blockchain based solutions has only scratched the surface when it comes to the African continent. The mainstream applications of blockchain technology have largely been finance-focused remittances, exchanges, DeFi, P2P payments, etc.

Key drivers include educating more people on how blockchain works, talent development in blockchain technology coding , getting more business to accept payments in crypto, etc. If you should be a part of the group, please sign up here. Or just want to say hi? Leave a comment here or message me on Whatsapp or Twitter eajene or email me. Take me to the feedback form!

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Crypto giant Circle has announced its intention to become a bank, fully regulated by the Federal Reserve, the Office of the Comptroller of.

Demystifying Cryptocurrencies, Blockchain, and ICOs

Blockchain applications go far beyond cryptocurrency and bitcoin. With its ability to create more transparency and fairness while also saving businesses time and money, the technology is impacting a variety of sectors in ways that range from how contracts are enforced to making government work more efficiently. We've rounded up 34 examples of real-world blockchain use cases for this pragmatic yet revolutionary technology. It's far from an exhaustive list, but they're already changing how we do business. Pioneered by Bitcoin, cryptocurrency transfer apps are exploding in popularity right now. Blockchain is especially popular in finance for the money and time it can save financial companies of all sizes. Blockchain application: Algorand is developing technology that reduces the gaps between traditional and decentralized finance, implementing next-generation products and protocols to make financial transactions more equitable for all.

What Circle Pay customers should do

circle cryptocurrency app

We designed our interest program so that it can suit everyone no matter if you want to invest Cash or Crypto. We make it easy to earn weekly returns to help you build your financial freedom. The Tap card is your greatest asset. Use it anywhere worldwide: online, in-store or ATMs.

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The crypto economy is growing as fast or faster than the internet and other technologies. From Big tech companies to small companies and retail investors, everyone seems to be catching up to the fact that Bitcoin, Ethereum, and the space are here to stay and are looking for a way to integrate them into their business models. Allaire said the following on their new program:. This program is part of a broader initiative we announced today, Circle Impact. This program has been particularly successful in Venezuela, the Latin American country with one of the highest crypto adoption rates around the globe. In collaboration with pollical actors, Circle is providing help for health works.

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Circle is searching for a buyer for SeedInvest, its crowdfunding unit as the Boston-based crypto firm focuses its efforts on stablecoins.

Subscriber Account active since. It's not uncommon for crypto investors to draw comparisons between digital-currency markets and the early days of the internet. Jeremy Allaire is one of the few people who has had a role in the development of both. Founding the computer-software company Allaire Corp.

Access hyper-relevant news analysis for your industry. Please enter a valid email. Why it matters: We're still a very long way from this happening. How it works: Circle's dream is to become a narrow bank — one that eschews fractional-reserve banking entirely, and instead places all deposits on reserve at the central bank. The big picture: If the dream were to become reality, then Circle would effectively be issuing a cryptocurrency backed by the Fed itself — for all intents and purposes, a central bank digital currency, or CBDC.

Circle has announced that it plans to become a public company. Circle is better known as one of the founding members of the Centre consortium with Coinbase.

Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Sign in. Accessibility help Skip to navigation Skip to content Skip to footer. Become an FT subscriber to read: Former Barclays boss Bob Diamond looks to take crypto company Circle public Leverage our market expertise Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Join over , Finance professionals who already subscribe to the FT. Choose your subscription.

O , will testify before the U. House Financial Services Committee on Dec. The hearing marks the first time major players in the rapidly growing crypto markets will testify before lawmakers, as policymakers grapple with the implications of the new financial product and how to best regulate it.

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