Circle introduced the open-source Perimeter protocol, which serves as the foundation for building tokenised lending markets.
“Perimeter Protocol is a set of smart contracts built on widely recognised standards that enable seamless capital exchange in safe, open networks,” the company explained the principle behind the technology.
The project became the first development by the firm’s new technical division—Circle Research.
According to the announcement, the protocol supports a range of use cases, including receivables factoring, salary advances, derivative trading for institutional investors, and much more.
Circle noted that the proliferation of stablecoins has brought enormous benefits to developers, corporations and users. However new entrants to the market face challenges adapting, especially in lending, which requires complex maneuvers, said the representatives of the issuer USDC.
Perimeter is designed to simplify this process and make the RWA-market more customer-centric.
“With the protocol, we unite real assets and secured or unsecured loans with underwriting standards and permissions in the protocol, which we created for the public good,” added Circle.
The company also published the project’s white paper and opened the repository on GitHub.
Developers urged their colleagues to study the documentation and start forking the protocol. The DeFi platform OpenTrade became the first service built using Perimeter.
Earlier, Circle shortened the names of its stablecoins to USDC and EURC.
As reported in August, the company used $1 billion to bolster its positions in the stablecoins segment.