In the coming years, the global economy will face new choices between open and closed systems. USDC and Circle’s stablecoins are a key part of that story. Walled gardens consolidate power in the hands of the few, but open systems naturally outcompete closed ones by allowing the best ideas to rise to the top.
The internet helped open projects with millions of crowdsourced entries topple entrenched closed networks, making the sum of human knowledge accessible to almost anyone on the planet. With USDC, Circle is bringing the promise of open systems to the global financial system.
How USDC is Advancing Financial Innovation
For millions around the world, money can still take hours or days to move from one country to another, working through a maze of closed systems that resist innovation and increase costs for everyone. Imagine if sending an email to friends in a different country took as long as sending a letter through the mail.
USDC is a stablecoin built on open infrastructure, and open to all. Instead of closed silos, USDC runs on public blockchains that can be accessed by anyone in the world with nothing but a smartphone and an internet connection.
And since blockchains are truly global networks, USDC can move from one corner of the world to another in a matter of seconds, for just a few cents each transaction.
So international workers can get paid with USDC even if it’s Sunday, instead of waiting for money stuck in a closed database. Or suppliers for goods from all over the world can be paid the same day their products arrive, instead of having to wonder when the money will arrive.
Open systems can create new foundations for innovation, because everyone gets to contribute to making the world smarter, faster, and a better place to be.
USDC: The Future of Money
We created USDC to bring the promise of the open internet to money. To give future-forward businesses the opportunity to bring financial innovation to the world faster and more equitably than ever before, powered by open financial infrastructure.
The future of money has arrived, and we’re sharing our vision with the world. Watch Circle Chief Revenue Officer Kash Razzaghi tell the full story as part of our Executive Insights Series, or visit Circle Stories to see how the era of open money is impacting lives across the globe.