Circle, the company behind the stablecoin USDC has just announced its new service: a crypto wallet for web3 developers. If this one is mainly aimed at those who build projects, it is to allow them to secure their users’ funds even more in the space of a few minutes.
A new service for developers at Circle
Jeremy Allaaire, CEO of Circle took advantage of the news to take the floor on Twitter and express himself further on the subject. For the latter, it is not that one of the great first steps of the company to develop its set of services in the direction of web3 for developers called “Web3 Services”.
We quietly released the first major milestone of @circle Web3 Services into production beta this week. Circle Programmable Wallets is our new Wallet-as-a-Service developer platform. https://t.co/YmnAc2dsU7
— Jeremy Allaire (@jerallaire) July 6, 2023
It’s a set of tools from Circle intended precisely for developers to build reliable applications and effective within the web3.
Thus, this new service from the fifth largest asset in the crypto-currency market wishes to offer developers a portefeuille crypto reliable easily inserted into many interfaces to provide an optimal user experience.
Therefore, this new service will not be not dependent on a specific blockchain. This means that developers will be able to use this crypto wallet on multiple networks without the need to use the code of a specific blockchain.
However, for the time being, the service can only be used on blockchains Ethereum, Polygon and Avalanche with more in the works soon.
Also, this new service is not the only project of its kind that exists. More recently this year, Coinbase launched its crypto wallet as a service allowing companies to personalize their own wallet from their blockchain for their customers.
As a reminder, Circle is located in Boston and its main purpose in addition to its stablecoins is of develop products for the crypto industry. Its USDC stablecoin is pegged to the US dollar and is one of the largest in the market, heavily used by crypto investors and traders.
According to CoinMarketCap, in the past 24 hours, there has been $4 billion in trading volume for USDC and the market has a total capitalization of $27.4 billion so far.
Source : Decrypt
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