August 30, 2021

USDC issuer will create a "global steblecoin network"

USDC issuer will create a "global steblecoin network"

Created by Circle and Coinbase, the Centre consortium has formed a team that will distribute stablecoins based on its standards abroad.

The unit includes six specialists. They include:

  • John Shipman (chief commercial officer);
  • Mark Dubose (director of risk and compliance);
  • Beth Zolkind (CFO);
  • Chad Richman (senior legal counsel);
  • Jessica Gardner (operations manager);
  • Kevin Mills (graduate project manager).

The new hires have gained experience at firms such as PwC Australia, Circle, Robinhood, Fenwick & West and Clearfield Capital.

The Centre is ready to invite processing companies and financial services providers to cooperate. Negotiations have already begun, according to Puth.

In terms of geography, the consortium is interested in Africa and Asia, where Stablecoins can be used in transfers with "low costs and delays."

Puth hasn't ruled out issuing Centre Stablecoins tied to other fiat currencies.

The company expects to start expanding from the Old World, doubling its staff.

Another direction Centre sees is expanding support for blockchain, including second-tier solutions.

 Currently, the organization's USDC is represented in Ethereum, Algorand, Solana, Stellar and Tron. In the future, Stablecoin will appear in Avalanche, Celo, Flow, Hedera, Kava, Nervos, Polkadot, Stacks and Tezos.

There are also plans to integrate USDC into the NFT ecosystem as a payment vehicle.

Recall that Visa connected its global network to USDC in December 2020. The company promised to issue a card allowing merchants to accept Stablecoin as a means of payment.

In March 2021, Visa and cryptocurrency service launched a pilot program to integrate USDC payments. In May, the payment system and stabelcoin issuer entered into a similar collaboration with fintech startup Tala.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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