Circle Research has been launched with a charter “to accelerate and amplify technical innovation within crypto, blockchain, and Web3 through open-source research.”
Circle Research’s inaugural open-source contribution, Perimeter Protocol, “offers a new standard for building on-chain credit markets.”
Open Source R&D
At Circle, they claim to firmly believe in “the power of shared knowledge as a catalyst for progress.”
Circle Research is committed “to open-source principles, making our leading research accessible to the global community.”
By encouraging collaboration and transparency, they aim “to contribute to the public good, enhance security standards, and accelerate crypto, blockchain, and Web3 innovation.”
As a key player focused don blockchain technology, Circle says that it “brings invaluable experience and a history of excellence.”
Circle Research builds on this legacy, amplifying it “with fresh perspectives to solve complex problems, creating a unique and potent force in the world of open-source R&D. ”
Today we are also announcing Circle Research’s inaugural contribution – Perimeter Protocol, a new standard for credit facilitation on the internet. Perimeter Protocol is a set of smart contracts built on open standards “to enable the seamless exchange of capital on secure, open and public networks.”
Circle has built its foundation and growth “on the principles of sound money on the internet, starting with USDC and now EURC.” They’ve seen the great utility stablecoins and USDC have brought “to developers, corporations, end-users and more across an array of use cases, including for global lending markets within DeFi.”
However, for new entrants to participate in these markets, the ability “to securely unlock credit on chain through safe standards and underwriting, represents a significant barrier to entry.”
Circle is releasing the Perimeter white paper and public GitHub Repo, in order “to advance the next building block of open protocol transacting: credit.”
With Perimeter, they are solving “for how to bring real world assets and un-or-under collateralized loans with standards for underwriting and permissioning into a protocol we are offering as a public good.”
Perimeter is flexible enough to “accommodate a wide range of credit use cases, from invoice factoring for small and medium sized businesses, to institutional crypto credit for trading opportunities, global payroll advances or instant settlement capabilities as part of merchant processing.”
