WonderFi, Circle Promote Economic Prosperity With DeFi

WonderFi Technologies Inc WNDR, a platform providing the masses exposure to a finance model that replicates market-making, borrowing, lending and exchanging without expensive institutional middlemen, announced a collaboration with Circle Internet Financial, a global tech firm specializing in payments and treasury infrastructure for internet businesses.

What Happened: USDC plays an essential role in powering economic activity over the internet.

With $31.2 billion in circulation and $1.1 trillion transferred on-chain to date, Circle’s USD Coin USDC/USD is the world’s fastest-growing dollar digital currency.

WonderFi, as part of the collaboration, will be expanding access to Circle’s USD Coin, thereby promoting economic prosperity via a frictionless exchange of value.

“Working together with Circle to create better access to the world’s fastest-growing dollar digital currency was a natural fit for us,” said Ben Samaroo, CEO of WonderFi. “There is sustained global demand for USDC as it continues to be regarded as the most trusted and well-regulated stablecoin, and it is a great first point of entry for users that are new to crypto and DeFi across the world.”

Why It Matters: The development comes as WonderFi looks to build out a blockchain-based gateway to a new decentralized financial ecosystem — defined by lower cost and better access — addressing many social issues that flow through traditional finance.

“The collaboration with WonderFi is an important step in providing more people access to the seamless, secure, and efficient way that USDC helps generate economic activity across a range of use cases in the digital asset economy,” said Jeremy Allaire, Circle’s co-founder, CEO and chairman.