Yesterday Circle, one of the companies behind the $3 billion USDC stablecoin, announced a deal with Visa. The agreement is multifaceted, including plans for a Circle Visa corporate card. It accelerates Circle’s strategy to enable mainstream stablecoin usage for business.
The reality is, Circle and USDC present an alternative to U.S. dollar bank accounts for businesses, especially foreign ones. Hence, ignoring the Visa deal for a second, Circle’s stablecoin coin offerings could prove massively attractive to companies.
Take international e-commerce firms based outside the United States. With a large chunk of e-commerce conducted in U.S. dollars, the card acceptance firms usually convert the cash to the store’s local currency, sometimes at a high cost.
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