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Circle delays its DeFi API product, citing need for regulatory guidance

2022/03/04 13:19

According to The Block, crypto payments infrastructure provider and stablecoin issuer Circle has delayed its DeFi application programming interface (API) product, citing the need for further regulatory guidance on its rollout. The DeFi API product, which would've initially helped businesses access Compound on the Ethereum network, has now been delayed and resources instead dedicated to launching the Circle Yield product and making the USDC stablecoin available on new blockchains, Circle said in a statement today. The company said: “the timing of the DeFi API product rollout will be guided by developments in, and the availability of, further regulatory guidance, enhanced compliance tools, and blockchain identity protocols."
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