Circle announced Wednesday (Dec. 15) that the company is expanding the access to its Circle Yield cryptocurrency yield service, opening it up to qualified businesses at a minimum allocation of $100,000 in digital currency.
The move widens the pool of customers who are able to participate in fixed-rate USD coin investments.
More than 85% of Yield positions have reinvested following the initial investment term.
“With Circle Yield, our customers have a seamless and fully secured way to take advantage of crypto capital markets,” Circle VP of Product Rachel Mayer said in the announcement. “We’ve been thrilled to work with the likes of Kevin O’Leary and social network Minds among many other design partners throughout our Early Access phase.
“As the product expands to a broader reach of businesses, we look forward to accepting new customers and providing greater access to superior crypto returns,” she said.
Circle Yield offers secured term investments with rates from 6 to 8% APY as of Dec. 2 and terms ranging from one to 12 months.
“As Circle Yield continues expanding to new customers, we’re excited to announce deeper integration between Yield and the Circle Account,” Mayer said in a company blog post announcing the expansion of the Yield initiative.
“With the Circle Account, Yield customers now have a tailored access solution for tracking, understanding and reporting on Yield allocations, unlocking improved due diligence through an-easy-to-use interface,” she wrote.
Related: Circle Debuts Crypto Yield And Treasury Program In Bermuda
In June, Circle Yield debuted in Bermuda, allowing corporate treasurers and institutional investors to leverage new opportunities for cryptocurrency yield under the regulatory oversight of the Bermuda Monetary Authority (BMA).
During its early-access period, Circle Yield was only available to companies based in the U.S. or Switzerland, along with institutional investors.
Circle Co-founder and CEO Jeremy Allaire told PYMNTS this summer that the digital payment world would be seeing continued proliferation in the adoption and development of cryptos.
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