Circle, Maps.me partner to bring DeFi benefits to more consumers
BOSTON, June 14, 2021 / PRNewswire / – Circle, a global financial technology company that provides payments and financial infrastructure to Internet companies, today announced a partnership with Maps.me that will provide millions of users worldwide with access to a decentralized financial ecosystem through the world’s leading offline mapping application. Together, Circle and Maps.me offer consumers using USD Coin (USDC), the world’s fastest growing digital dollar currency, easy access to the Maps.me DeFi ecosystem.
That means cheap, fast and secure payment, transfer and investment options with USDC – as well as exclusive discounts and benefits – all within a user-driven financial system that allows people to trade directly with one another, not through a financial institution.
As part of the partnership, Maps.me will incorporate USDC support, developed by Circle and Coinbase, to provide a seamless customer journey from using a credit card to purchase USDC to holding MAPS tokens in a Maps.me wallet enable. Users can:
- Achieve a return of up to 8% on the stored value
- Make payments through a linked credit card
- Send money instantly and cheaply to friends and family worldwide in 35 different currencies
- Receive up to 10% cashback on Booking.com
- Enjoy up to 50% discount on selected eSIM and telecommunications services
“We are very proud to be part of the first effort to bring the DeFi experience to a large audience on Maps.me,” said Jeremy Allaire, CEO and Co-Founder of Circle. “Our two companies share a commitment to turning money into an Internet experience that allows users to send, share, pay and invest as easily and freely as email, SMS or social media.”
The Maps.me app has been downloaded 140 million times over the past nine years, with 60 million people using it to navigate 195 countries in 2020. In a recent survey by Maps.me, the company found that around half of its users are interested in accessing financial services through the app. More than 220,000 users have already entered a waiting list for a digital wallet within the app.
“DeFi is ready for the mainstream and Circle is a natural partner for the Maps.me ecosystem to drive mass adoption,” said Alex Grebnew, Co-founder of Maps.me. “We know that Maps.me’s large and dedicated user base is looking for instant, secure, and easily accessible financial services that are relevant to their needs. This partnership with Circle accelerates our ability to take advantage of DeFi and Put people who are responsible for their financial lives as much as they are responsible for their travels. “
USDC has seen tremendous growth and has become critically the fastest growing and most widely adopted fully reserved and compliant dollar digital currency. USDC in circulation has grown from just over 400 million in early 2020 to over 20 billion June 9th, according to CoinMarketCap. The adoption of USDC has expanded to trade, payments, savings, loans, and other use cases in blockchain finance. Today hundreds of companies in the blockchain ecosystem have built support for USDC into their products and services.
“This partnership is another building block in building a different, more open financial system,” said Viktor Mangazeev, co-founder of Maps.me. “Maps.me offers users a world of possibilities, as DeFi apps can be seamlessly integrated into one another. That means more and more exciting services and offers for users.”
Circle is a global financial technology company enabling businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce, and financial applications around the world. Circle’s platform has supported more than 100 million transactions from more than 10 million individual customers and more than 1,000 companies. Circle is also a lead developer of USD Coin (USDC) which, along with Coinbase and the Center Consortium, oversees the standards and protocol for the fastest growing, regulated, fully reserved digital dollar currency. USDC now stands at more than $ 22 billion and has supported over $ 615 Billions in transactions last year. Today, Circle’s transaction services, business accounts and platform APIs are leading to a new generation of financial services and commerce applications that hold the promise of increasing global economic prosperity for all through programmable e-commerce. Learn more at https://circle.com.
Maps.me is the world’s leading offline map application for travelers. It was launched in 2012 and has been downloaded more than 140 million times. More than 60 million users worldwide were active in 2020, planning and navigating their trips to 195 countries. Maps.me users can download maps for their planned trips and then access their maps without the need for expensive roaming connectivity or the risk of inconsistent data signals. Maps.me is a committed open source advocate ensuring complete privacy protection for its users who are major contributors to the OpenStreetMapping project worldwide. Starting in 2021, the app will integrate payment, currency exchange and passive income services in 35 currencies to further enable explorers around the world. For more information, please visit https://maps.me.
SOURCE Circle Internet Financial, Inc.