Maps.me Partners With Circle to Offer In-App Payments
- Maps.me will offer instant, in-app payments by leveraging Circle’s USDC stablecoin.
- Users will be able to buy and hold USDC and MAPS tokens in their Maps.me digital wallets.
Shutterstock
According to an announcement published on 17 June, Maps.me will leverage technology from Circle to offer instant payments to more than 35 countries and easy in-app payments to Maps.me partners using credit and debit cards.
Maps.me users will now be able to buy and hold Circle’s USD Coin (USDC) and MAPS tokens in their own Maps.me digital wallet. The wallet will act as a brand new access point to the world of cryptocurrencies and digital applications, the company explained in the statement.
“We’re very proud to be a part of the first effort to bring stablecoins to a massive audience on Maps.me” Circle co-founder and CEO Jeremy Allaire announced, further elaborating: “Our two companies share a commitment to transforming money into an internet experience that allows users to send, share, pay and invest as simply and freely as email, text messaging, or social media.”
Alex Grebnev, the co-founder of Maps.me, revealed that the platform’s user base has been looking for instant, secure, and easy-to-access financial services for a long time. Partnering with Circle has accelerated the company’s ability to deliver the benefits of DeFi to its users, he explained.
The popular offline mapping application saw over 220,000 people join the waitlist for the launch of its integrated digital wallet. A recent survey found that half of more than 60 million of its users want access to more financial services through the Maps.me mobile app.
- Despite the events of last week, Circle has been able to clear almost all USDC backlog, and redeemed $3.8 billions USDC between March 13 and March 15.
- The stablecoin issuer also went live with a new transaction banking partner for both domestic and international wires, and expects to bring more capabilities back soon.
Shutterstock
- NYDFS took possession of Signature in order to protect the economy and strengthen the confidence in the banking system, and assured customers that all deposits will be returned.
- The price of USDC also started to recover after its issuer, Circle, revealed that all stablecoin reserves held at Silicon Valley Bank (SVB) were safe, and that the company had new banking partners.
- Stablecoin issuer Circle and special purpose acquisition company (SPAC) Concord Acquisition have mutually ended their merger agreement.
- The deal, which valued Circle at $9 billion, would have allowed the USDC issuer to become a publicly traded company.