Share this article
Circle Adds Signature as a Banking Partner
The partnership will allow for future integrations of Circle products and services within the bank.
Updated Sep 14, 2021, 12:42 p.m. Published Apr 19, 2021, 4:00 p.m.
Make us preferred on Google
New York-based Signature Bank will become the leading financial institution for Circle’s USDC reserve deposits, the stablecoin issuer announced Monday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As part of the partnership, Circle will be integrated into Signature’s blockchain-based real-time payments platform, Signet, which will allow for future integrations of Circle products and services within the bank.
Unlike traditional finance rails that only operate on weekdays, Signet and its competitor Silvergate Exchange Network (SEN) offer real-time payments, every day of the week. In addition to providing the speed of real-time along with weekend access, these networks benefit from having as many crypto industry players interacting on them as possible.
“Many of our digital asset-based commercial clients have been requesting we include Circle in the Signet ecosystem,” Signature Bank President and Chief Executive Officer Joseph J. DePaolo said in a press release, adding:
“We look forward to completing this integration in the coming months. We will also seek to leverage this technical integration into future partnerships and service offerings, further strengthening the bank’s leadership position in the digital asset space and adoption and use of USDC stablecoin.”
Circle has more than $13 billion on deposit at financial institutions today as reserves for USDC-issued tokens. Global payments company Visa announced in March that transactions can now be settled using USDC.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin, ether extend declines as leverage unwind accelerates: Crypto Markets Today
Crypto markets fell further overnight as bitcoin and ether extended losses, metals tumbled and liquidation pressure hit leveraged traders across derivatives markets.
What to know:
- Bitcoin and ether extended declines as the crypto market compounded Thursday's selloff.
- Silver and gold also fell, adding to broader market weakness alongside a firmer dollar.
- Crypto liquidations hit $1.8 billion, while bitcoin dominance slipped as traders rotated into riskier altcoins.
Top Stories
