2 years ago
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The company has been looking for ways to improve its features and usage and its main focus has been on USDC and its associated products.
Yield Investment Program
The amount of USDC in circulation is now several billion and it is expected to grow in the future as well. In the meantime, the company has been building products around its stablecoin product to increase its usage and make it open and attractive for mainstream users and also for larger investors and companies that are flocking into crypto over the last few months.
“With Circle Yield, our customers have a seamless and fully secured way to take advantage of crypto capital markets,” Circle VP of Product Rachel Mayer said in the announcement. “We’ve been thrilled to work with the likes of Kevin O’Leary and social network Minds among many other design partners throughout our Early Access phase. As the product expands to a broader reach of businesses, we look forward to accepting new customers and providing greater access to superior crypto returns,” she said.
Strong Growth
The program is a term investment program that offers returns of anywhere between 6% to 8% APY as of this December. This is much higher than what traditional banks in many of the developed countries offer and that is the reason why this program has been having some great demand during its trial phase. The terms are also flexible with it ranging from 1-month to 12 months with the company also making the whole process very transparent so that the users would be able to see which programs are being invested in, what the yields are from each program, and other details which makes it very convenient for the users.
During its early-access period, Circle Yield was only available to companies based in the U.S. or Switzerland, along with institutional investors. This expansion in this service to a variety of businesses not only shows the confidence that the company has in its program but also shows the increasing demand for such services in the crypto world. It is expected that the uptake for this program would be strong among the various investors.
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