Circle Acquires Elements To Accelerate Crypto Payments
Circle has purchased Elements, a payment services provider, in order to expand its own operations.
Jeremy Allaire‘s company wants to minimize the entrance hurdle for retailers interested in the next generation of payments. On Thursday, the crypto payments company and USDC issuer announced the purchase during a ceremony in San Francisco.
Elements founder and CEO Nafis Jamal said in a statement:
“Elements’ mission is to put more money into the hands of merchants. With Circle, we knew the natural synergy in our business models would create an opportunity to deliver a seamless and low cost payments and settlement experience for merchants using a digital currency they can trust.”
On Wednesday in San Francisco, Circle announced a cross-chain transfer mechanism to facilitate USDC interoperability.
This week, the company also announced a strategic agreement with Robinhood, which includes a connection with USDC.
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