- OwlTing Group, which offers stablecoin services including business cross-border payment options, has said that it has paired up with Circle in relation to business-to-business payments.
- It is believed that the service will be compatible across a range of blockchains, such as Avalanche, Algorand and Polygon.
- “When the U.S. Office of the Comptroller of the Currency (OCC) announced that regulated financial institutions are allowed to use stablecoins, we discovered new business opportunities,” said a senior figure at OwlTing Group.
OwlTing, a provider of stablecoin-related services including cross-border payments for businesses, has confirmed a new partnership with stablecoin developer; Circle.
The move will help improve the services it offers via its OwlPay brand and means that it will be able to give payouts in USD Coin (USDC).
It will also give them access to digital wallet services as well as payment clearance options.
It is understood that the early target audience will be firms in the US that want to make quick global payments.
From there, it will be possible for relevant firms to pay using USDC.
It is also believed that the service will be compatible across a range of blockchains, such as Avalanche, Algorand and Polygon.
Darren Wang, the firm’s founder and chief executive officer, said that the pro-stablecoin move meant that business opportunities were on the horizon.
“When the U.S. Office of the Comptroller of the Currency (OCC) announced that regulated financial institutions are allowed to use stablecoins, we discovered new business opportunities,” he explained.
“After in-depth research, we chose to work with Circle. We think USDC is the most reliable and transparent dollar digital currency to date, and we believe stablecoins will play an important role in the FinTech industry and a crucial step to changing global finance.”
He also shared more context regarding the challenges that OwlTing tries to overcome with its use of technology.
“OwlTing strives to solve business pain points and upgrade various industries with innovative technologies, and OwlPay is our new solution for the FinTech industry. With global cross-border transactions using stablecoins, OwlPay is well-prepared to set a milestone in the global payment industry,” he said.
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