The Aptos Foundation has announced a new partnership with Circle and Stripe, hoping to revolutionize the functionality of its network. Circle's CCTP and USDC stablecoin will improve blockchain interoperability, while Stripe will appeal to TradFi by simplifying fiat interactions.
Aptos set ambitious goals with this partnership, but APT’s upward momentum has stalled.
Aptos partners with Circle and Stripe
According to a new announcement from the Aptos (APT) Foundation, its network is integrating Circle’s USDC stablecoin and the Cross-Chain Transfer Protocol (CCTP). Additionally, Aptos is integrating the Stripe payments platform, generally simplifying fiat-related functionalities. This includes on- and off-ramps, payment processing, and ease of adoption for TradFi.
Once the integration is complete, users will be able to seamlessly transfer USDC between Aptos and eight major blockchains. In addition to USDC and CCTP, Stripe will soon launch its payments services on Aptos, creating a trusted fiat on-ramp to streamline merchant payments and receipts using Aptos-compatible wallets, the company said in a statement.
In other words, Aptos intends to use this partnership to become “the ultimate hub for interoperable DeFi.” These companies will approach this goal from both sides: attracting new users and investors while substantially improving the core experience. This partnership marks a new development for Stripe’s integration with crypto.
Stripe actually took a six-year hiatus from crypto payments, which only ended in April. Since then, however, it has been getting serious about the space. The company previously entered into a partnership with Circle in June, hoping to promote the adoption of USDC. Additionally, Stripe acquired Bridge, a crypto payments platform, last month.
In turn, Aptos is going through a recovery process. Despite a large price increase in March, it has suffered a persistent decline for most of 2024. The asset began to regain strength in October, and the November bull market brought growing optimism. Even so, his earnings stagnated for about a week.
Aptos price in 2024. Source: BeInCrypto
This partnership between Aptos, Circle, and Stripe could help APT regain its momentum. These ambitious new features will add a lot of functionality and accessibility to Aptos’ network. Still, the company has set a very ambitious goal for itself: to solidify “its position as a leader in interoperable DeFi and enterprise-grade blockchain technology.” Only time will tell how successful it is.
The article Aptos partners with Circle and Stripe to provide access to TradFi appeared first on BeInCrypto Brasil.
