Following the collaboration between BIT exchange with Circle, the creator of the world's most trusted dollar digital currency (USDC), the integration of Circle's API on the BIT exchange is live. Now, you can easily deposit money from over 80 countries in fiat currencies and convert them into USDC, which will then be used for your desired crypto payments and transfers.
This development would see how money is moved in the digital era—making crypto asset transfer more accessible, inclusive, and efficient.
Benefits of the USDC Deposit Powered by Circle
1. USDC 1:1 with USD: Many cryptocurrencies are known for their volatile nature. As a user of the Circle USDC deposit, there's nothing to worry about. The USDC is fully backed by cash and short-dated U.S. government obligations, so you can always redeem it at 1:1 for U.S. dollars.
2. ZERO fees when using Circle on BIT Exchange: When using the Circle deposit channel via the BIT exchange app, there will be a waiver of charges for the transactions you initiate. This waiver is available only on BIT and for a limited time, so take the opportunity now.
3. Wired within 1-3 Days: With Circle USDC Deposits, trading keeps improving. Any transaction initiated by users can be made happen at the speed of light - both on-chain and via traditional payment channels.
4. Reliability and strict compliance: The digital asset market is always open, unlike the traditional asset market. Circle operates a strict compliance model, being a licensed money transmitter. They also publish attestation reports regarding the reserve balances backing their USDC.
5. Supports fiat currencies in over 80 countries: Using Circle-backed USDC deposit on BIT is simple as it currently supports fiat conversion from over 80 countries.
As the digital space widens, individual and corporate bodies are concerned with the need to easily access, save and transfer funds quickly, securely and efficiently.
Circle, a Boston-based financial services company, is at the centre of the needed digital currency innovation. Circle aims to create an inclusive financial future for everyone as a global financial company through peer-to-peer payments and cryptocurrency-related products.
In 2018, Circle reportedly raised $110 million in venture capital to create the world's most trusted dollar digital currency, a stablecoin built on the Ethereum blockchain network. The stablecoin is known as USD coin (USDC), and it is fully backed by U.S. dollars. As such, users of Circle can easily accept global payments, initiate deposits and payouts and manage digital assets in their accounts.
About BIT Crypto Exchange
BIT is a full-featured cryptocurrency exchange that is designed for use by professionals. It provides services such as the execution of trading strategies, price discovery, and liquidity provision. BIT is always working to encourage the creation of innovative new financial products, improve the trading tools available to users, and offer a wide variety of tokens. Trade with confidence, knowing that the platform is built with institutional-grade security and risk management measures in place. Sign up on BIT, and switch on your future.