{"id":67833,"date":"2022-09-29T10:23:40","date_gmt":"2022-09-29T07:23:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67833"},"modified":"2025-09-07T08:46:32","modified_gmt":"2025-09-07T05:46:32","slug":"blocks-tbd-and-circle-unite-to-promote-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blocks-tbd-and-circle-unite-to-promote-stablecoins\/","title":{"rendered":"Block&#8217;s TBD and Circle unite to promote stablecoins"},"content":{"rendered":"<p>Block&#8217;s Jack Dorsey unit, TBD, and Circle, the company behind USDC, have agreed to a partnership aimed at promoting the use of stablecoins in savings and cross-border settlements.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">So much shared vision and philosophy with the Block TBD team, thrilled to see what we are going to be able to do together to build a more fair, safe and inclusive payment ecosystem. <a href=\"https:\/\/t.co\/0ylcttzI0y\">https:\/\/t.co\/0ylcttzI0y<\/a><\/p>\n<p>\u2014 Jeremy Allaire (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1575318137645412353?ref_src=twsrc%5Etfw\">September 29, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative is aimed at the global rollout of dollar-pegged stablecoins in payments and financial apps, initially in countries with rapidly devaluing currencies such as Turkey and Argentina.<\/p>\n<p>The partners will provide developers with the necessary infrastructure, and wallet providers will have the opportunity to connect to the open-source protocol with decentralised identification. A network of bridges between fiat and digital currencies is envisaged.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abFor the industry, such gateways remain a last-mile problem. For ordinary citizens, accessing cryptocurrencies in a decentralised way is too difficult, and for their users \u2014 switching to fiat. The US dollar today is the reserve currency; Bitcoin could achieve that status tomorrow. Stablecoins are the linking bridge between them\u00bb,<\/em> \u2014 explained to CoinDesk, TBD COO Emily Chiou.<\/p>\n<\/blockquote>\n<p>On September 29, Circle announced an upcoming expansion of USDC support to five blockchains \u2014 Polkadot, Optimism, NEAR, Arbitrum and Cosmos. The first four will be integrated by the end of the year, Cosmos in early 2023.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ Another exciting announcement just shared at <a href=\"https:\/\/twitter.com\/hashtag\/ConvergeSF22?src=hash&amp;ref_src=twsrc%5Etfw\">#ConvergeSF22<\/a> \ud83d\udc40 we intend <a href=\"https:\/\/twitter.com\/hashtag\/USDC?src=hash&amp;ref_src=twsrc%5Etfw\">#USDC<\/a> to be available on <a href=\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\">@arbitrum<\/a> <a href=\"https:\/\/twitter.com\/cosmos?ref_src=twsrc%5Etfw\">@cosmos<\/a> <a href=\"https:\/\/twitter.com\/NEARProtocol?ref_src=twsrc%5Etfw\">@NEARProtocol<\/a> <a href=\"https:\/\/twitter.com\/optimismFND?ref_src=twsrc%5Etfw\">@optimismFND<\/a> <a href=\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\">@Polkadot<\/a> <a href=\"https:\/\/t.co\/OKR8Scq6yY\">pic.twitter.com\/OKR8Scq6yY<\/a><\/p>\n<p>\u2014 Circle | #ConvergeSF22 | Sept 27-30 (@circlepay) <a href=\"https:\/\/twitter.com\/circlepay\/status\/1575206651530907649?ref_src=twsrc%5Etfw\">September 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In June 2022, TBD announced the concept of a decentralised, open-source Web5 platform. According to the developers, the project will allow users <a href=\"https:\/\/forklog.com\/en\/news\/jack-dorseys-company-unveils-web5-concept-for-a-decentralized-web-platform\">to maintain full control over their personal data<\/a> and digital identities.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/jack-dorsey-to-spearhead-development-of-a-decentralized-bitcoin-exchange\">Dorsey introduced TBD<\/a> in August 2021. Initially the unit planned to create a decentralised Bitcoin exchange based on Block (formerly Square).<\/p>\n<p>In August 2022 Circle<a href=\"https:\/\/forklog.com\/en\/news\/circle-freezes-usdc-on-tornado-cash-addresses-amid-u-s-sanctions\">blacklisted USDC addresses<\/a> of the wallets of the mixing service<a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-tornado-cash-mixer-and-why-was-it-sanctioned\">Tornado Cash<\/a> after <span data-descr=\"Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury\" class=\"old_tooltip\">OFAC<\/span> sanctions.<\/p>\n<p><a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrencies news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Block&#8217;s Jack Dorsey unit, TBD, and Circle, the company behind USDC, have agreed to a partnership to promote the use of stablecoins in savings and cross-border settlements.<\/p>\n","protected":false},"author":1,"featured_media":67834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1330,807,910],"class_list":["post-67833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-jack-dorsey","tag-stablecoins","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=67833"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67833\/revisions"}],"predecessor-version":[{"id":67835,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67833\/revisions\/67835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/67834"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=67833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=67833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=67833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}