Circle's APIs now support payments and payouts

Monday 1 February 2021 10:58 CET | News

UK-based fintech Circle has announced that its APIs now support ACH payments and payouts.

Circle explains that ACH support allows clients to provide bank transfers to and from USDC, which is a digital asset pegged to the US dollar. Circle APIs provide payment rails such as cards, wires, and blockchain-enabled transfers.

Digital asset exchange FTX has adopted Circle’s APIs and new ACH services to support the launch of new retail crypto brokerage products. Furthermore, in order to make connecting bank accounts and accepting ACH payments easier, Circle has teamed up with Plaid to enable account verification. The customers are able to directly link their banks (no account details get shared with Circle, or with its clients) and start transferring money.

ACH payments automatically settle as USDC in a user’s Circle Account, and payouts enable automatic conversion from USDC into ACH transfers. When combined with Circle Digital Dollar Account APIs, clients can create advanced treasury management and payments apps.

More: Link

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Keywords: Circle, API, Open Banking, Open Finance, Open Data, payments , pay-out, USDC, digital assets, crypto, cards, blockchain, FTX, ACH, crypto brokerage, Plaid
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech