Business Daily Media

StraitsX introduces USDC support for Business and Personal Accounts

  • Written by Business Daily Media

StraitsX account holders will now be able to send and receive USD in their accounts and make USDC transfers

SINGAPORE - Media OutReach - 24 November 2022 - StraitsX, a part of Southeast Asia digital financial services group, Fazz, a Major Payment Institution in Singapore announced today that it has partnered with Circle Internet Financial, a global financial technology firm and the issuer of USD Coin (USDC) and Euro Coin (EUROC), to promote greater access and adoption for USDC by enabling its personal and business account users to deposit and receive USD/USDC via the StraitsX platform.

StraitsX account holders will now be able to mint USDC by depositing USD into their StraitsX accounts, and redeem USDC to receive USD in their StraitsX accounts.

With USDC being one of the fastest-growing stablecoins in the world and a widely requested asset from partners on StraitsX, the integration aims to better serve its business, corporate, institutional, and retail users. As of 23 November 2022, over 20 million USDC has been traded since the launch of the StraitsX OTC desk, and in 2022, demand on the platform for the digital asset continues outpacing 2021 growth with three times as many trades year on year.

"We're thrilled to partner with Circle to start offering USDC to StraitsX account holders. This partnership marks the first time we are directly partnering with another stablecoin issuer and we look forward to more collaborations with like-minded partners such as Circle," said Aymeric Salley, Head of StraitsX.

"We are excited to partner with StraitsX and we look forward to them offering the stability of USDC to their customers in the Asia Pacific region and beyond," said Raagulan Pathy, Vice President of Asia Pacific for Circle.Hashtag: #StraitsX

The issuer is solely responsible for the content of this announcement.

About StraitsX

StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia. StraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore and is part of Fazz's ecosystem of financial services which powers business banking in Southeast Asia. StraitsX offers personal and business account holders to mint and redeem StraitsX stablecoins, manage payments as well as connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payment rails for digital asset platforms.

About Circle

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of value. Circle does not directly service retail customers.

News from Asia

Traveloka, Southeast Asia’s leading travel platform unveils a new tagline "Life, Your Way."

“Life, Your Way” is part of Traveloka’s commitment to delivering customer-centric end-to-end solutions across Southeast Asia. SINGAPORE - Media OutReach - 1 December 2022 - Traveloka, Southe...

Mindwise Sees Increase In Concern Over Impact Of Covid-19 On Sexual Wellbeing

SINGAPORE - Media OutReach - 1 December 2022 - Mindwise Counselling Services & Training, a Singapore-based counselling centre, has seen an increase in individuals seeking help for concerns ar...

Happy Rainy Days Has Launched the Ultra Water Repellent Umbrella

SINGAPORE - Media OutReach - 1 December 2022 - Happy Rainy Days has launched the innovative 'wet-free' umbrella which can instantly dry up with just one shake. Creative in its approach, all of Hap...

SIBUR in talks over selling carbon units as part of decarbonisation strategy

MOSCOW, RUSSIA - Media OutReach - 1 December 2022 - SIBUR, the largest petrochemicals company in Russia and one of the fastest growing in the global petrochemicals industry, is in talks with inter...

Tourism Bureau’s Taiwanese gourmet food truck

Tourism Bureau spokescouple Kim Jae-woo and his wife make a surprise appearance to promote tourism in Taiwan with Oh!Bear TAIPEI, TAIWAN - Media OutReach - 1 December 2022 - To publicize the openi...

Arrow Electronics Receives Two Employer Awards

Recognized as one of the “Best Companies to Work for in Asia” and “WeCare: HR Asia Most Caring Companies” in Hong Kong HONG KONG SAR - Media OutReach - 1 December 2022 - Global technology...

Skipton International Achieves Buy-to-Let GBP1 Billion Lending Milestone

GUERNSEY - Media OutReach - 1 December 2022 - For the first time in Skipton International's history, the award-winning offshore bank has surpassed GBP1 billion UK buy-to-let mortgage lending. This...

NetApp Propels Cloud Data Services with New Leader for Australia & New Zealand

NetApp’s 22-year legacy in ANZ is boosted with a new leadership team to drive hybrid multicloud transformation SINGAPORE - Media OutReach - 1 December 2022 - NetApp® (NASDAQ: NTAP) a global...

One Raffles Place shopping mall goes festive with exciting events and festive gifts to be won

It’s Beginning to Look a Lot Like Christmas in The City SINGAPORE - Media OutReach - 1 December 2022 - Celebrate the Christmas Season here at One Raffles Place shopping mall from 11 November til...

Mowreq and YesHealth Group sign deal to build Saudi Arabia’s largest indoor vertical farm

This will be the largest indoor vertical farm in the Kingdom of Saudi Arabia, and the tallest in the Middle East region. The farm will supply 2,000 kilograms of fresh leafy vegetable...

Business Reports

Jobs are up! Wages are up! So why am I as an economist so gloomy?

Why so sad, George?Chuck Savage via Getty ImagesIn any other time, the jobs news that came down on Dec. 2, 2022, would be reason for cheer.The U.S. added 263,000 nonfarm jobs in November, leaving the unemployment rate at a low 3.7...

Darknet markets generate millions in revenue selling stolen personal data, supply chain study finds

Hackers are just one part of a supply chain in a multimillion-dollar black market for stolen data.Peach_iStock via Getty ImagesIt is common to hear news reports about large data breaches, but what happens once your personal data i...

Accenture Acquires Fiftyfive5 to Boost its Customer Intelligence Capability in Australia and New Zealand

(From L-R) Darren Kemp, Fiftyfive5 Founding Partner, Mark Sundquist, Fiftyfive5 Managing Partner, Mark Green, Accenture Song’s ANZ Lead, Karen Philips, Fiftyfive5 Founding Partner Fiftyfive5’s deep customer understandin...