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Crypto firm Circle hit by Signature Bank closure
linkweb3
2023-03-13
2267
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Summary：Circle, the company behind stablecoin USD Coin (USDC), plans to line up a new transaction banking partner with automated minting and redemption, possibly as early as Monday, Jeremy Allaire, Co-Founder and Chief Executive Officer of Circle said in a tweet. State regulators closed New York-based Signature Bank on Sunday, just two days after California authorities shuttered Silicon Valley Bank (SVB), in a collapse that roiled global markets and stranded billions of dollars of deposits.
Circle, the company behind stablecoin USD Coin (USDC), plans to line up a new transaction banking partner with automated minting and redemption, possibly as early as Monday, Jeremy Allaire, Co-Founder and Chief Executive Officer of Circle said in a tweet. State regulators closed New York-based Signature Bank on Sunday, just two days after California authorities shuttered Silicon Valley Bank (SVB), in a collapse that roiled global markets and stranded billions of dollars of deposits.
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