Circle Plans to Focus on Stablecoin Platform in 2020

Digital asset ecosystem company Circle is planning to focus its efforts on stablecoins globally, dollars on public blockchains (USDC) specifically, in the upcoming year. Circle reported that its 2020 product roadmap sees this “focus” emerging first in the form of new global payment, custody, and wallet APIs for stablecoins.

“More than six years ago, we envisioned a world in which value can move freely and instantly over the internet — lowering the cost of commerce, connecting and including more people in the financial system, and sparking financial innovation as money itself becomes programmable. Global stablecoins and USDC, which we created and delivered through the CENTRE industry consortium, propel that mission forward in Circle’s next phase.”

Circle also reported that its platform services supported its Pay, Invest, Trade, and USDC products and businesses by providing underlying custody, risk and identity management, compliance management, data science, card and banking gateways, and blockchain gateways.

“In 2020, we’re excited to surface this core of what we’ve built and expose these powerful services through new APIs. These APIs will accelerate the adoption of stablecoins and USDC, which has already become the fastest growing and largest full-reserve stablecoin in the world. It’s an exciting time to be building, as so much of what we’d envisioned upon founding Circle is now finally becoming reality at scale. Stablecoins, third generation blockchains, and deep global policy engagement suggest to us that the mass market phase of crypto currency adoption is approaching over the next two to three years.”

In regards to what the year may hold for the company itself, Circle added:

“Our vision and mission remain unchanged since we founded Circle in the summer of 2013. We have, however, course-corrected many times as we execute on that mission to achieve the vision. We have learned many important lessons, and they inform where we are now and our plan for traversing the path ahead. The global interest in stablecoins and digital currency backed by central bank money, the introduction of third generation public blockchains, and the accelerated global policy interest in crypto all provide an exciting backdrop for our new platform services in 2020. We are excited to get these technologies into the hands of creative developers and businesses everywhere.”

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