FV Bank will allow the use of USDC stabilcoins for direct deposits – Bits Media

International online bank FV Bank announced, which launches a new service, which will allow customers to make direct deposits of USDC stablecoin to traditional bank accounts.

With the new feature, users will be able to receive USDC into their accounts like, how is this done with traditional deposits. Funds received will be converted into US dollars at the time of deposit. Reported, that this will allow FV Bank clients to issue invoices to their counterparties in other countries immediately in stablecoins, which should speed up, reduce the cost and secure transactions.

According to CEO Miles Paschini (Miles Paschini), for now the bank intends to use one stablecoin, but will consider using other stablecoins in the future.

The bank also plans to launch its own depository service in the fourth quarter 2022 of the year. This will allow customers to store digital assets in an escrow account. According to the CEO, the bank will support major digital currencies, Such as bitcoin (BTC) And ether (ETH). 

Earlier, the crypto derivatives exchange Bybit announced a partnership with Circle. Spot USDC pairs will be deployed on Bybit, and also offered additional integrations for clients.