MoneyToken to Give out Loans in Stablecoin from Goldman Sachs-Backed Circle
Following the announcement that Circle, a fintech startup backed by Goldman Sachs, plans to launch a stablecoin pegged to the U.S. dollar, the blockchain-based ecosystem MoneyToken has confirmed the listing of the stablecoin, Circle USDC, on its lending platform and decentralized exchange.
“USD-C is compliant and easy-to-cash-in alternative to Tether, and we expect a lot of requests from traditional and crypto business to add it as an option to our platform, I think that need was just in the air”
Alex Rass, co-founder of MoneyToken
MoneyToken is a worldwide blockchain-based financial services ecosystem, which provides opportunities for leveraging, borrowing and lending cryptocurrency assets. In early 2018 MoneyToken has announced strategic partnerships with several TOP-10 cryptocurrencies and was supported by founder of Bitcoin.com, Roger Ver, who has joined the MoneyToken’s advisory board.
USD-C is ERC-20 token based on the Ethereum network. Circle plans to offer USDC through Poloniex. It will also incorporate USDC in its social payments app and over-the-counter (OTC) trading desk.
Circle is a peer-to-peer payments technology company, which was founded in 2013 by internet entrepreneurs Jeremy Allaire and Sean Neville.
Circle has bought Poloniex exchange and was backed by $250,000,000 from Goldman Sachs, Bitmain, IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group and Pantera, along with new investors Blockchain Capital and Tusk Ventures.
There is no direct connection between MoneyToken’s founder Alex Rass and Circle’s CEO Jeremy Allaire, but so quick reaction probably means some connections in between or with Goldman Sachs, that is interested to integrate their USDC coin into existing crypto ecosystem.