Finnt is building on Circle!

finnt x circle

We are excited to announce our integration with Circle!  

With Circle, Finnt users will be able to harness the power of dollar digital currencies and access the world of digital assets. 

Our users are looking for an easy way to access the world of Web3 and cryptocurrency. This is why developing the Finnt app to incorporate Circle, one of the best actors in crypto, is a major focus for us. After researching multiple companies, we selected Circle. We believe they offer some of the most robust services in the crypto ecosystem.

Who is Circle?

Circle is a global financial technology firm that provides internet-native payments and treasury infrastructure. They are the issuer of USD Coin (USDC). 

Launched in 2018, USDC is one of the fastest growing dollar digital currencies. They have over $50 billion in circulation as of April 15, 2022. 

Why USDC?

Stablecoins, like dollar digital currencies, enable an ease of liquidity in the crypto markets. 

There are many stablecoin issuers. According to CoinMarketCapUSDT (Tether) and USDC as the largest two stablecoins by circulating supply. USDC is fully backed by cash and short-dated U.S. government obligations. 

At Finnt, we strive for the safe custody and transparency of our customers’ assets. Circle’s transparency and high collateral ratio are one of the biggest reasons why we selected to work with them.

How Finnt Uses Circle? 

With Circle’s Payments and Payouts APIs, Finnt is able to streamline the on-ramp and off-ramp processes (ie. deposit or withdraw USDC using wire transfers and ACH payment methods) by making it easy to get USDC added to our users’ account balances. With USDC, Finnt users’ balances remain stable, without having to hold other crypto assets. 

As Finnt is being used by families around the world through our account & sub-account structure, our users can keep their cash in a dollar digital currency like USDC instead of using remittances services and cashing out in a local currency. 

Ease of Use

Circle provides an infrastructure that enables businesses to accept payments and send payouts globally via one platform.  

Our CTO Faouzi said ‘Circle has the most complete suite of API services and well-built documentation which makes integration faster.

Indeed, Circle offers an ACH integration solution with Plaid, which eases transaction processing. Plus, Circle works with an extensive list of partners and exchange platforms that will help build our API scalability!  

A Shared Vision

Tapping one of the leading companies in the space is another step forward towards implementing Finnt’s vision. 

Furthermore, our aim is to educate a large panel of individuals and enable communities to benefit from decentralized financial services. So it’s important for us to build on top of reliable, secure and scalable infrastructure such as what Circle offers. 

Our founder and CEO, Anji Ismail said: ‘We have had great relationships with Circle and found their teams to be super helpful and efficient!

Thank you to the Circle team for their energy and excellence.By the way, our waitlist is still open: we’ll keep you posted 🙂

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