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Companies that have incorporated Circle’s application programming interfaces (APIs) can now send invoices in local fiduciary currency to vendors, freelancers, and other services in more than 80 countries, the peer-to-peer generation company announced Thursday.
So far, corporations can simply deliver virtual dollar bills to their suppliers and terminate consumer chain transactions in USDC using the Circle Wallets API.
Large corporations like Etsy, eBay and Amazon have distributors who bring their expertise, craftsmanship and infrastructure.For those markets, it can be incredibly difficult to pay distributors around the world through banking systems.By enabling invoices in local currencies, Circle gives businesses a way to make invoices more flexibly.
With the new feature, merchants who receive tickets can obtain them in local currency or keep the USDC and log in with wallets and exchanges that allow the use of tickets in USDC, as well as their conversion and exchange into fiddria coins.
According to Circle co-founder and CEO Jeremy Allaire, the feature of this feature is a component of Circle’s ongoing efforts to provide users with a smooth way to move from a purely virtual currency-based global system to the existing old global banking system.
“Basically, whether you’re a company that accepts or makes payments, there’s a slow switch to genuine virtual currency on the Internet.People want to move seamlessly between the two systems, so Circle APIs are unique because we attach virtual dollar infrastructure to the existing monetary system,” Allaire said.
© 2020 The Block Crypto, Inc.All rights reserved. This article is for informational purposes only and is not proposed or intended to be used as legal, tax, investment, monetary or other advice.