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TBD Collaborates with Circle to Expand Cross-Border Dollar-Linked Stablecoins

2022.09.29
TBD, a crypto-expert subsidiary of Twitter co-founder Jack Dorsey's Block (SQ), teams up with Circle Internet Finance, issuer of the USDC stablecoin, to provide investors throughout the world with cross-border dollar-linked stablecoin payments and deposits, the crypto media channel CoinDesk reported on September 29.

With a $49 billion circulating supply, Circle's USDC, the second largest stablecoin on the market, promises to gain from serving as a bridge for international payments. Kash Razzaghi, Circle’s chief revenue officer, mentioned that remittances are one of the most compelling use cases for stablecoins.

The collaboration between TBD and Circle aims to lay the foundation to access stablecoins globally, so developers can build upon the infrastructure, and crypto wallet providers can plug into the open-source protocol. This includes building sufficient links – on-ramps and off-ramps – between the traditional government-issued (fiat) currencies and blockchain-based digital currencies.

According to World Bank data, Mexico received $51.6 billion in remittances last year, ranking second in the world, and 95% of those remittances came from the United States.

Fee policy for withdrawal of virtual assets

The following fees are charged when withdrawing virtual assets from Delio Bank.

Virtual asset type Transmission fee (Gas fee) Withdrawal fee
Bitcoin (BTC) Charged according to network conditions 2,000 won worth of Bitcoin
Ethereum (ETH) Charged according to network conditions 2,000 won worth of Ethereum
Ripple (XRP) Charged according to network conditions 1 XRP

· There is no fee for transfers within Delio Bank.

· No withdrawal fee is charged for virtual assets other than Bitcoin, Ethereum, and Ripple.

· Please check the transfer fee for virtual assets other than Bitcoin, Ethereum, and Ripple when withdrawing.