About minting USDC with Circle

Yubi Viera

Modified on: Fri, 30 Jun, 2023 at 3:34 PM

1.- Why should Airtm Enterprise clients open an account with Circle?

To enjoy the convenience of adding funds to your Airtm account automatically, you might be required to create a Circle account if you don't currently hold Stellar USDC. By going through a straightforward KYC process at Circle, your company can gain access to various payment methods, including bank transfers, to mint Stellar USDC. Airtm will instruct you and help you get preferred support during this process to make the experience as seamless as possible.

2.- What is Circle?

Circle is a licensed and regulated Money Service Business (MSB) founded in 2013. Circle, as a global financial technology company, is the sole issuer of the popular stablecoin USDC, a cryptocurrency, the value of which is pegged to the U.S. dollar. A full list of Circle licenses can be found here.

3.- How Secure is Circle?

Circle’s USDC is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it is always redeemable 1:1 for U.S. dollars. USDC reserves are held in the custody and management of leading U.S. financial institutions, including BlackRock and BNY Mellon. Monthly reserve attestations provide assurance that the amount of stablecoin reserves are greater than the amount in circulation each month. U.S. state money transmission regulators supervise and examine Circle on a continual basis.

4.- Supported Jurisdictions

Circle Internet Financial serves customers worldwide; however, due to regulatory restrictions, it may not be available in certain jurisdictions. To determine whether Circle operates in your location, please refer to the full list of supported jurisdictions here.

5.- Restricted Activities and Prohibited Transactions

To maintain a secure and compliant environment, Circle prohibits certain activities and transactions. If Circle becomes aware that you are engaging in restricted activities or prohibited transactions, it may suspend or terminate your Circle Account. Please refer to Section 20 of the Circle Account User Agreement for further details.