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Circle - Competitor Profile

August 2020 | 13 pages | ID: C8583B4FA885EN
GlobalData

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Circle - Competitor Profile

SUMMARY

Circle is a US-based payment service provider. Launched In 2013, Circle initially offered Circle Pay, a peer-to-peer money transfer solution allowing users to transfer money in currencies including US dollars, pound sterling, and euros. In September 2019, Circle discontinued Circle Pay.
It now offers blockchain-based payment processing solutions. The services offered by the company include Circle Business Account and Circle APIs. Users can store, make and accept payments from customers via their Circle Business Account. To open a Business Account, users need to enter details including name, email address, and phone number. Circle verifies the details to secure the account, after which the user enters their Know Your Customer details and links a bank account to tokenize fiat currency into USD Coin (USDC). USDC is a US dollar-pegged regulated stablecoin managed by Centre (a consortium founded by Circle and Coinbase). Once the bank account is linked, the Business Account is created. The service is now supported in over 150 countries.
Circle offers Circle APIs, enabling businesses to leverage blockchain technology to make and accept payments. Circle offers three APIs: Payments API, Wallets API, and Marketplaces APIs.
The report provides information and insights into Circle including -
  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance, including its revenue model
  • The company's important events and milestones
SCOPE
  • In October 2013, Circle was launched.
  • In March 2020, Circle launched Circle API, enabling businesses to leverage blockchain technology for making and accepting payments.
  • In June 2020, Circle partnered with blockchain research platform Algorand Foundation, enabling customers of Circle Business Accounts and Circle APIs to move funds between banks and card networks in USDC on the Algorand blockchain platform.
  • In July 2020, Circle partnered with digital asset brokerage firm Genesis to jointly expand new USDC yield and lending services under Circle’s suite of products.
REASONS TO BUY
  • Gain insights into Circle's business operations and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Overview
Benchmarking
Revenue Model
Products & Services
Significant Events
Appendix

COMPANIES MENTIONED

Circle
Bitpay
Coinbase
Voyager
Genesis
BCB Group


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