USD Coin (USDC) operator Circle launched a new account service targeted at helping businesses to transact in cryptos, according to a report by CoinTelegraph on Wednesday.

  • The new business-centric Circle Account allows business clients to deposit, withdraw, receive and store cryptos and have all payments settled in the USDC stablecoin.
  • Circle’s new account features allow enterprises to seamlessly integrate crypto payments into their business operations and use digital assets as collateral.
  • Account holders will be able to send and receive USDC across eight blockchain platforms, including Ethereum, Algorand, Solana, Stellar, Tron, Hedera, Avalanche and Flow.
  • From the launch of Circle Accounts in 2020, the number of active users has grown by 213%. The company stated that businesses adopt USDC to create efficiencies for their operations.

Circle accounts can be utilized by accredited investors to take part in the company’s stablecoin lending program, referred to as Circle Yield. ETH USD up +3.26%.