Boston-based bitcoin services provider Circle, which earlier allowed its customers to make transfers only in virtual currency, has enabled the users of its app in the United States to make payments with US dollars. The new function is in line with the company’s strategy to simplify international money transfers using bitcoin.
“You can enjoy the benefits of Bitcoin without ever holding or buying bitcoin yourself, and without being exposed to bitcoin price volatility. Even if you prefer to hold US dollars in your Circle account, you gain security, speed, and open interoperability with bitcoin wallets and services around the globe. You can hold US dollars but still send someone bitcoin, and likewise someone can send you bitcoin and Circle can instantly turn it into US dollars in your account,” the company said in a blog post.
Circle Pay’s users will be able to make international transfers and change currencies, dollars to yuan or euro, at any time for free. The service will allow immigrants to easily send funds to their families in their native countries, instead of using exchanges, which usually charge a fee. The app’s users can send dollars or virtual currency to anyone with a bitcoin wallet, but those