Circle to sunset payment app, continue advancing vision of crypto-based payment solutions using fiat tokens

2019-6-14 19:11

Next month, we’re starting the process of sunsetting support for Circle Pay but are marching forward with the mission we began five years ago: creating new global crypto financial services for people to store and create value, earn money and make payments in a seamless way through new wallet services in Circle products.

We believe the future of finance will be built on open blockchain technology. Over its successful, five-year lifespan, Circle Pay was a pioneering social payment app. Circle Pay has clarified the path forward by highlighting the robust, global demand for people to exchange value as seamlessly as they exchange information. However, that demand largely relied on interfacing with the traditional financial system and untokenized fiat currencies.

With the creation of fiat tokens and stablecoins such as USD Coin (USDC), people can seamlessly transfer fiat value over blockchains without the risk of cryptocurrency volatility, making peer-to-peer payments instant, global, secure, and free, significantly advancing our original vision and providing more global seamless opportunity for people around the world. As such, we believe that it is appropriate to retire Circle Pay at this time.

We will continue to work toward connecting every person on the planet through an open financial system built on crypto assets and blockchain technology.

What Circle Pay customers should do

All Circle Pay customers should cash out their funds today. Customers who currently hold Bitcoin in Circle Pay are also encouraged to send BTC funds to another wallet such as a Poloniex account.

As previously announced, Circle will support and distribute Bitcoin Cash and Bitcoin SV holdings to eligible customers who held a Bitcoin balance with Circle Pay prior to the date of the Bitcoin Cash fork, August 1st, 2017. Eligible customers in good standing will be able to withdraw both their Bitcoin Cash and Bitcoin SV by the end of September. We will reach out to customers when distributions are available to be withdrawn.

Here are key dates:

July 8: Customers will no longer be able to add money or send money to anyone through their Circle Pay account. They will only be able to cash out funds to their linked card or bank account. We will also limit new sign ups by July 8th. July 31: Any remaining funds will be attempted to be returned to customers’ linked bank accounts or cards beginning on July 31st. September 30: We will fully deprecate all support for Circle Pay.
Post September 30: We will begin the escheatment process and turn over funds to the state or country where a customer resides, in accordance with applicable law.

Here are other important details:

Withdrawal Delays: While customer funds are custodied safely throughout this process, delays withdrawing funds may occur because of increased withdrawal activity. You will be able to get your money from Circle Pay before the product is discontinued. Bitcoin Cash & Bitcoin SV fork support: If you currently have Bitcoin in your Circle Pay account, we encourage you to send your Bitcoin to another wallet. In a few months, if you are eligible you will also be asked to send Bitcoin Cash and Bitcoin SV to another wallet. We will notify you when the Bitcoin Cash and Bitcoin SV distributions are ready to be withdrawn. What's next

Whether it’s launching new wallet services, building upon the success of USDC, driving crypto adoption through Poloniex, or expanding ways entrepreneurs can raise capital on the internet through SeedInvest, Circle will play a leading role in making a global economy where more people and businesses can enter into diverse economic arrangements with anyone easily and safely.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0048849 (-100%)

new circle payment crypto financial services global

new circle → Результатов: 126


Компания Circle сокращает персонал

Компания Circle, владеющая криптовалютной биржей Poloniex и краудфандинговым порталом SeedInvest, сократила 30 сотрудников, что составляет порядка 10% штата. Today we made organizational changes at Circle and eliminated approximately 30 positions, which is about 10% of our employees.

2019-5-22 12:35


Оператор биткоин-биржи Poloniex объявил о сокращении персонала из-за жесткого регулирования в США

Компания Circle, владеющая криптовалютной биржей Poloniex и краудфандинговым порталом SeedInvest, сократила 30 сотрудников, что составляет порядка 10% штата. Today we made organizational changes at Circle and eliminated approximately 30 positions, which is about 10% of our employees.

2019-5-22 10:52


USDC Ecosystem Spotlight: USDC crosses $300 million in market cap and has support from nearly 100 companies

USDC this week surpassed $300 million in market cap (including Circle activity) and earned the support of six new companies, bringing to nearly 100 the number of exchanges, protocols, platforms, applications, wallets and service providers that are part of the USDC ecosystem. USDC, launched in September, is now the second

2019-1-10 19:03


Объемы торгов на внебиржевой криптоплатформе Circle в 2018 году составили $24 млрд

В 2018 году на внебиржевой платформе по покупке и продаже биткоина и других криптовалют от платежной компании Circle было заключено сделок на общую сумму в $24 млрд. Об этом говорится в блоге Circle.

2019-1-4 11:27


Фото:

Coinbase doubled its cryptocurrency lineup in 2018 — and that’s just the beginning

With yesterday’s addition of Zcash (ZEC), popular exchange service Coinbase has more than doubled its cryptocurrency lineup in 2018 – and by the looks of it, the trend is here to stay. Up until August, Coinbase supported a narrow inventory of cryptocurrencies on its flagship desktop and mobile apps, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), the last one of which was added last December.

2018-12-6 20:26


Circle Invest Launches a Crypto Rewards App Program in a Bid to Attract New Bitcoin Customers

In a Bid to Attract New Customers, Circle Invest Launches a Crypto Rewards Program As per a fresh new blog post on the official Circle Invest website, the firm has just announced the launch of its ’new rewards program’ that aims to attract more investors to the company’s native investment platform. NEWS: Make your first […]

2018-11-13 17:58


Circle Launches Crypto Reward Program to Attract New Customers

Crypto finance startup Circle has announced the launch of a new reward program in a bid to attract new customers to its Circle Invest platform. The reward program, which will run through the end of the year, will reward new Circle Invest customers with one of the crypto assets supported by the platform, which currently […] The post Circle Launches Crypto Reward Program to Attract New Customers appeared first on Coinjournal.

2018-11-13 01:05


Фото:

Global Digital Finance Release Industry Code of Conduct to Establish Global Crypto Standards

On Wednesday, October 31, Global Digital Finance released the cryptocurrency industry Code of Conduct that will help to standardize and increase adoption of the crypto economy. It also noted that leading crypto companies, Circle, Coinbase, ConsenSys, R3, Diginex, Hogan Lovells and DLA Piper have joined the GDF as Founding Members of the New York, Hong […] Global Digital Finance Release Industry Code of Conduct to Establish Global Crypto Standards was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-3 05:29