Concerns that Circle, the entity that created the USDC stablecoin, might have kept some of USDC's cash reserves at Silicon Valley Bank, which California's financial watchdog shut down on Friday, prompted the steps.
The U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation shuttered Silicon Valley Bank (SVB) after it went through financial difficulties.
Apple Pay support has now been added, $USDC issuer Circle announced, enabling qualified cryptocurrency businesses to accept Apple Pay as a form of payment.
Circle Ventures participated in the $8 million Series A for Slope Finance in February and the $22.4 million seed round funding for Nomad in April. The USDC Stablecoin issuer plans to go public this year