- The developers of the second-largest stablecoin in terms of market capitalization are creating a cryptocurrency wallet platform that facilitates logins via social media and email.
Developers at USDC issuer Circle said their newest product will let customers approve cryptocurrency transactions via email, social log-ins, or PIN codes in a new announcement on the social media platform X.
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With social logins, users may utilize their pre-existing information from social media accounts—like Facebook and X—to log in to third-party websites.
Jeremy Allaire, the CEO of Circle, claims that the new solution will make the switch from Web2 to Web3 easier.
Another step toward creating Web3 wallets that are secure and simple to use. Using social logins and email one-time passwords, Circle’s Programmable Wallets—a development platform for creating smart wallets—now facilitates onboarding and authentication. a significant step in enabling Web2 users to access Web3.
Out of all regulated dollar-pegged cryptocurrency assets, USDC is presently the most sought-after stablecoin, according to market research firm Kaiko’s findings earlier this month.
Nevertheless, Kaiko also pointed out that unregulated stablecoins continue to rule the market; this might alter as a result of the EU’s Markets in Crypto-assets (MiCA) regulation.
Presently, 88% of all stablecoin volume is made up of non-compliant stablecoins, which dominate the market. MiCA has the potential to upset this equilibrium by encouraging compliant stablecoins over non-compliant ones on exchanges and among market makers.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
