Bitcoin graduate Circle launches free social payment app in UK with Barclays
http://www.ibtimes.co.uk/bitcoin-graduate-circle-launches-free-social-payment-app-uk-barclays-1553353
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Circle, the leading digital payments company which uses the blockchain as a settlement rail, is launching a social payment app in the UK with the help of Barclays.
It's the first time the Financial Conduct Authority has granted an E-Money Issuer license to a consumer Internet firm for cross-border payments with blockchain technology.
Circle said the app, which will be available on iOS and Android, will allow UK consumers to send and receive cross border payments with instant conversion between pound sterling and US dollars with zero fees, and that euro and other currencies will follow.
Circle formed a strategic commercial partnership with Barclays to launch in the UK but stressed, the bank is not distributing the product or making it available to Barclays customers; rather it is providing Circle with underlying capabilities to hold sterling for its own consumers via any bank account in the UK.
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It's the first time the Financial Conduct Authority has granted an E-Money Issuer license to a consumer Internet firm for cross-border payments with blockchain technology.
Circle said the app, which will be available on iOS and Android, will allow UK consumers to send and receive cross border payments with instant conversion between pound sterling and US dollars with zero fees, and that euro and other currencies will follow.
Circle formed a strategic commercial partnership with Barclays to launch in the UK but stressed, the bank is not distributing the product or making it available to Barclays customers; rather it is providing Circle with underlying capabilities to hold sterling for its own consumers via any bank account in the UK.
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