Leading fintech, Circle, comes with an innovative solution to help developers incorporate cryptocurrency wallets into their applications.
Groundbreaking solution from Circle
Circle has announced a dynamic programmable cryptocurrency wallet service for app developers. This revolutionary solution will enable developers to “securely embed wallets in just minutes.”
Jeremy Allaire, Circle’s CEO, announced on Twitter on Thursday, July 6, that the company had “quietly reached the first milestone” within its Web3 Services branch. Web3 Services is Circle’s toolkit that allows developers to “quickly create amazing Web3 applications.”
The fintech company, responsible for stablecoin USD Coin (USDC), the fifth largest digital asset, describes the new product on its website, saying: “Efficiently embed wallets into your existing user interface to deliver an amazing and optimized experience to your customers.”
Solution for multiple blockchains
The announcement also added that the product will be “blockchain-independent,” meaning that developers will be able to use the wallet on different blockchains without having to write special code. The company announced that programmable wallets currently support Ethereum, Polygon and Avalanche, and will soon be available for other chains as well.
However, this innovative service is not the only product offered by this cryptocurrency company. Earlier this year, the largest U.S. exchange for digital assets, Coinbase, introduced “wallet as a service,” allowing institutions to customize blockchain wallets for their customers.
Circle is going from strength to strength
Circle, based in Boston, is a company that specializes in developing products for the crypto space. The most well-known of these is USD Coin (USDC), a digital token tied to and backed by US dollar reserves.
USDC, the fifth-largest digital asset, is considered a key asset in the cryptocurrency world. Stablecoins are assets with the lowest possible volatility, particularly useful for traders who want to make quick transactions without the need for a traditional bank account or fiat currency.
Circle also announced on Thursday that Heath Tarbert has become their new chief legal officer. Tarbert, a former regulator, joins the company as executive director to deal with dual challenges from the Securities and Exchange Commission (SEC), which is pursuing enforcement actions against exchanges. Tarbert will also take over as Circle’s head of corporate affairs, starting officially in July, shortly after stepping down from his role as chief legal officer at Citadel Securities.