- This partnership will support the liquidity of Stablecoin USDC
- The service of Ripio Earn has been available to more than 5,00,000 users of Ripio in Argentina and Brazil
- Ripio Earn is skyrocketing with its services, where users can also generate additional income from their interest bearing account
A leading Bitcoin and Cryptocurrency trading platform of Latin America, Ripio, has joined a global fintech platform Circle. This partnership will support the liquidity of Stablecoin USDC and will also maintain the fund flow across the exchange and wallet of Circle.
The platform of Ripio has revealed the launch of its new wallet feature “Ripio Earn,” which is a USDC yielding farming account, providing an annual interest rate return of 6%. The service of Ripio Earn has been available to more than 5,00,000 users of Ripio in Argentina and Brazil. However, the program will only work with USDC, and the users can only get access with a minimum amount of $50, while the maximum amount for placement will be $5,000.
Rapid Growth in Stablecoin
It is observed that the global demand for stablecoins has escalated since the last six months, with a growth of approximately 500%, with only $400 million of circulation to a market cap of more than $2.8 billion as of today. If more and more currencies start to struggle under market conditions and show an increment in volatility, several institutions will demand strategies to pursue US dollars. Meanwhile, USDC is emerging as the most efficient and effective way with a nice paved path.
The rush to stable assets is growing massively among all institutions, whether cryptocurrency investors or traders or freelancers, or any small business entity. According to Sebastian Serrano, Co-Founder, and CEO of Ripio, the firm is spearheading with the current drift of USDC acquisition, with their products and services that makes the acquisition fast, secure, and cost-efficient. Serrano stated that for those who want to participate in the DeFi economy in Argentina and Brazil, for them, Ripio Earn is skyrocketing with its services, where users can also generate additional income from their interest bearing account.
As Circle has a powerful and flexible stablecoin’s platform that keeps pace with the rapidly evolving product of Ripio and shares a vision for a more inclusive and fair financial system, it will help Ripio focus on their goals.
According to Jeremy Allaire, co-founder and CEO of Circle, the firm is happy for Ripio taking advantage of their platform and accelerating the adoption of USDC via introducing new products like Ripio Earn. This wider availability of digital dollars by Ripio promises for increment access to the new economic opportunities.
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