The development team behind the second-largest stablecoin by market cap is currently working on a crypto wallet platform that will support email and social media-based logins.
In a recent announcement on the social media platform X, developers at Circle, the issuer of USDC, revealed that their upcoming product will enable users to authorize crypto transactions using email, social log-ins, or PIN codes.
“Facilitate faster app onboarding with Social Logins or Email OTP verification! Our latest release offers more options for seamless user onboarding and secure transaction authentication when working with programmable wallets.”
Social logins will permit users to access third-party websites using their existing social media account information, such as Facebook and X.
Circle CEO Jeremy Allaire expressed that this new product will help in transitioning smoothly from Web2 to Web3.
“Another significant step towards creating secure and user-friendly Web3 wallets. Circle’s Programmable Wallets, a development platform for smart wallets, now supports onboarding and authentication through Social Logins and Email OTP. This marks a major milestone in making Web3 accessible to Web2 users.”
Recent findings by market intelligence firm Kaiko showed that USDC is currently the most popular regulated stablecoin among dollar-pegged crypto assets.
However, Kaiko highlighted that unregulated stablecoins still dominate the market, a trend that might change with the implementation of the European Union’s Markets in Crypto-assets (MiCA) regulation.
“Presently, non-compliant stablecoins hold an 88% share of the total stablecoin volume. The introduction of MiCA could potentially shift this balance as exchanges and market participants lean towards compliant stablecoins over non-compliant alternatives.”
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