January 15, 2024, Zug – Bitcoin Suisse today announced plans to build on their existing relationship with Circle, a global financial technology firm and the issuer of the leading regulated[1] US dollar-based stablecoin, USDC, with the goal to expand USDC liquidity in Europe.
As part of this ongoing collaboration, Bitcoin Suisse is committed to circulating USDC on its 24/7 trading and custody platform and activating the full use of the stablecoin across its channels. The on/off-ramp speed will be further improved by focusing on banking partner alignment, and USDC has been added as a standard supported trading pair for all compatible assets.
USDC is a digital currency that can be exchanged 1:1 for US dollars and is fully reserved. It is highly liquid and accessible around the world, open-source, and built for rapid and secure global payments. The stablecoin features short settlement times and allows Bitcoin Suisse’ clients to store funds while enhancing their liquidity used for trading. Since USDC became available on Bitcoin Suisse Online in 2021, the company’s trading and custody platform, the stablecoin has grown steadily among its client base.
Important features of USDC include:
- Highest standards: Backed 100% by cash and cash-equivalent assets
- Secure: 1:1 minting and redemptions regardless of economic fluctuations
- Speed: Near-instant settlement of transactions
- Transparent: Monthly attestations signed off by a Big 4 auditor
- Cost efficient: Low transaction costs, available on 15 different blockchains
- Availability: 24/7, including outside banking hours
Dr. Dirk Klee, CEO of Bitcoin Suisse, said: “This comprehensive partnership with Circle represents our shared goal for the future of digital currencies based on blockchain technology and the ongoing adoption of stablecoins. With a market capitalization of ~25 billion USD, USDC is one of the most trusted stablecoins worldwide. Circle is one of the most trusted and respected brands in Web3, and we share the same values of security, transparency, and a strong focus on compliance. We have been supporting USDC for five years and are very pleased to expand its adoption on our platform.”
Sanja Kon, VP, Europe at Circle, stated: “We are excited about the continued evolution of our partnership with Bitcoin Suisse. Together, we look forward to expanding the boundaries of USDC's reach across Europe, empowering individuals and institutions with seamless access to a trusted, stable, and widely accessible digital currency.”
[1] Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. A full list of Circle’s licenses can be found here.
Circle is not a bank; Circle Mint is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any US or foreign government agency, insurance fund, person or entity.
