Social payments startup Circle rolls into Europe

Pay your friends or receive money from them – easily via an app without any additional fees!

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It may have started as a Bitcoin wallet but veteran entrepreneur Jeremy Allaire’s fintech startup Circle has since shifted focus to social payments, launching an app in Q4 last year that lets users send U.S. dollars to settle IOUs between each other, with its pitch being it makes payments as easy as firing off an SMS (and perhaps cheaper, given there’s no fees involved for Circle users).

And while fiat currency payments are now evidently the focal point for its business (rather than Bitcoin payments), Circle does still offer the ability to feelessly pay people elsewhere in the world, in some 150 countries — and for that it needs to loop Bitcoin into the mix, turning dollar payments into BTCs deposited into the recipient’s Bitcoin wallet.

But Allaire prefers to talk now about the other, more fashionable ‘b’ word — blockchain — asserting that Circle is utilizing blockchain technology to “build a model for money that works over the open…

Read the entire article from TechCrunch here: Social payments startup Circle rolls into Europe

 



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