Circle - Competitor Profile

Circle - Competitor Profile

  • June 2021 •
  • 15 pages •
  • Report ID: 5954816 •
  • Format: PDF
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 their 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, Payouts API, and Digital Dollar Account API.

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 revenue model
- The company’s important events and milestones

Scope
- October 2013 , Circle was launched.
- InSeptember 2016 , Circle introduced iMessage money transfer service for users of iOS 10 and above, allowing individuals to transfer money in US dollars, euros, and pound sterling via Apple’s texting service.
- In March 2019, CircleAcquired US-based equity crowdfunding platform SeedInvest.
- In December 2020, Circle partnered with Visa to offer corporate cards for its business account customers, allowing them to spend their USDC balance at merchants globally, which accept Visa cards.

Reasons to Buy
- Gain insights into Circle’s business operations and key events.
- Gain insights into its product portfolio.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
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