Circle Launches Business Account for USDC 

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Today’s Cryptocurrency Headline

Stablecoin USDC operator Circle has launched a new account service aimed at helping businesses transact with cryptocurrencies. The company announced Wednesday that the new Circle accounts allow corporate customers to deposit, withdraw, receive and store cryptocurrencies, and settle all payments in USDC. Circle’s new account feature enables businesses to seamlessly integrate crypto payments into their operations and use digital assets as collateral. Account-holders can send and receive USDC across eight blockchains, including Ethereum, Algorand, Solana, Stellar, Tron, Hedera, Avalanche, Flow. In addition, accredited investors can also use Circle accounts to participate in the stablecoin lending program. The program, called Circle Yield, offers investors an annual return of 4% to 6%.

BingX’s Bitcoin Chart

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Digital asset investment products (crypto funds) saw their fifth consecutive week of net inflows last week, totalling about $109 million, despite recent price fall and the ongoing tensions between Russia and Ukraine, according to the Coinshares’ weekly report. Of these, bitcoin funds withnessed $89 million in inflows last week, the highest level since December 2021. The price of bitcoin bounced from the key support at $36,000, and bulls are now trying to drive the price above the overhead resistance zone between $39,500 and the 50-day Simple Moving Average($40,481). If the bulls manage to achieve this and maintain the price above $40,000, BTC could reach $46,000.

 

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