TBD Jack Dorsie and Circle will combine efforts to promote stablecoins

The structural division of Block Dorsie – TBD – and the Circle company, who was standing for the USDC, agreed to partnership to popularize the use of stablecoin in savings and cross -border calculations.

So Much Shared Vision and Philosophy with The Block Tbd Team, Thrilled to See What We are Go Able to Do -Together to Builda Fair, Safe and Inclusive Payment EcOSOSYENT ECOSOSOSENTENTE. https: // t.CO/0YLCTZI0Y

– Jeremy allaire (@jerallaire) https://gagarin.news/news/the-tornado-cash-mixer-will-block-addresses-that-are-under-sanctions/ September 29, 2022

The initiative is aimed at the widespread introduction of “stable coins” tied to the dollar, in payments and financial applications on a global scale. First of all, in countries with rapidly devaluation currencies like Turkey and Argentina.

Partners will provide developers with the necessary infrastructure, and cryptocurrencies suppliers will provide the opportunity to connect to the open source code and decentralized identification. It is supposed to create a network of bridges between fiat and digital currencies.

“For the industry, such gateways remain the problem of the last mile. For ordinary citizens, it is too difficult to access cryptocurrencies by a decentralized way, and their users – go to fiat. The US dollar today is a reserve currency, Bitcoin can get this status tomorrow. Stable coins – a connecting link between them “, – explained in an interview with Coindesk Coo TBD Emily Chiu.

On September 29, Circle announced the upcoming expansion of support for the USDC stablecoin in five blocks – Polkadot, Optimism, Near, Arbitrum and Cosmos. The first four integrate until the end of the year, Cosmos – at the beginning of 2023.

1/ Another Exciting Announce Just Shared at #Convertersf22 👀 We Intend #usdc to be avalable on @arbitrum @cosmos @nearproprotocol @optimismfnd @polkadot pic.Twitter.COM/OKR8SCQ6YY

– Circle | #Convertgesf22 | Sept 27-30 (@circlepay) September 28, 2022

Recall that in June 2022, TBD announced the concept of a decentralized platform with open source code Web5. According to the developers, the project will allow users to maintain full control over their personal data and digital identities.

Dorsy presented TBD in August 2021. Initially, the unit planned to create a decentralized bitcoin-tour on the basis of the Block payment company (previously Square).

In August 2022, Circle has blacklisted the USDC address of the Tornado Cash mixing service after the sanctions imposed by OFAC.

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