Circle, the issuer of USDC, a dollar-pegged digital currency backed by the U.S. dollar, has joined the Global Travel Rule (GTR) network, an alliance led by Binance that aims to strengthen compliance in cross-border cryptocurrency transactions. 🤝 This move comes on top of Circle’s existing involvement with the TRUST network, which provides a separate framework for secure cross-border digital asset transfers. 🚀
Circle has expanded its commitment to compliance standards by joining the @binance-led GTR Network, further solidifying their efforts to comply with FATF’s Travel Rule requirements. 🔒
The GTR mandates that digital asset companies share sender and receiver data when transferring funds across borders. This ensures transparency and safety in USDC transactions for institutions such as banks, fintech platforms, and enterprises worldwide.
Circle continues its commitment to a multi-network strategy for compliance, demonstrating their dedication to operating within a secure framework. This move further strengthens Circle’s ties with established exchanges like Binance and HashKey, and paves the way for increased user confidence in the global digital asset ecosystem.