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Boston-based FinTech Circle has chosen New York City-headquartered Signature Bank to become its lead financial institution to hold reserve deposits, the firm announced in a Monday April 19 聽press release.Signature Bank will聽 hold billions of dollars in reserve deposits related to USD Coin USDC , the digital dollar stablecoin, per the announcement.聽Signature Bank, a full-service commercial bank, is a public firm trading on Nasdaq under the ticker SBNY. Adding a respected, forward-thinking financial institution to our USDC reserve network is another step forward in adoption and growth for the world fastest-growing digital dollar currency, said Jeremy Allai <a href=https://www.stanley-cup.cz>stanley hrnek</a> re, CEO and co-f <a href=https://www.stanleycups.co.nz>stanley cup nz</a> ounder of Circle.As part of a long-term plan, the two firms are also planning to integrate Circle into Signet, Signature Banks blockchain-based digital payments platform that enables real-time payments. The joint technical effort to integrate Circle into Signet will enable possible future integrations of additional Circle <a href=https://www.stanleycups.pl>stanley termos</a> products and services within the Bank, per the release. Integration into Signet will afford many of our commercial customers real-time account USDC settlement 24/7/365, Allaire said in the announcement. Many of our digital asset-based commercial clients have been requesting we include Circle in the Signet ecosystem, said Signature Bank President and CEO Joseph J. DePaolo. We look forward to completing this integration in the coming months. We will also seek to leverage this te Dbda Koverly Launches B2B BNPL Platform for International Trade
With an eye on what could be called a true greenfield opportunity, alternative lending platform Biz2Credit is launching its small business lending products in India. As has been reported, the nation offers grist for the small business lending mill, with the firm stating in its announcement last week that its push into India comes as <a href=https://www.cups-stanley.fr>gourde stanley</a> the market is defined in part by as many as 29 milli <a href=https://www.stanleycup.fr>gourde stanley</a> on small businesses, where smaller firms contribute as much as 45 percen <a href=https://www.stanleycups.us>stanley usa</a> t of the nations industrial output as a whole and slightly less than that as a percentage of total exports.Rohit Arora, cofounder and chief executive officer of Biz2Credit, told PYMNTS that, given the wide berth occupied by SMEs in India, across a plethora of verticals, the initial demand would most likely come from the regional big cities in the country and the small businesses within those cities ?most likely entrenched in services and technology.Drilling down a bit, the key areas of lending, said Arora, would be the working capital needs of small businesses and a sweet spot tied to those needs, where $150,000 to $250,000 loans would be used to furnish inventory, equipment or ramp up staffing. In short, said the CEO, not as much in the way of startups ?but instead, through efforts to grow their businesses and manage payroll. There, of course, remain some issues to be handled that are聽partly聽cultural, and Biz2Credit is aware of what gaps exist in reaching out to nascent businesses, said Arora. One of the key challenges |
