The team behind the second-largest stablecoin by market cap is building a cryptocurrency wallet platform that supports email and social media-based logins.
Developers at USDC issuer Circle made a new announcement on social media platform X, saying their latest product will allow users to authorize cryptocurrency transactions using email, social login, or PIN code.
“Onboard users to your app faster with social login or email OTP (one-time passcode) verification! Our latest release gives you more options to seamlessly onboard users and securely authenticate transactions when building with user-controlled programmable wallets.”
Social login allows users to log in to third-party websites using existing data from their social media accounts, such as Facebook or X.
According to Circle CEO Jeremy Allaire, the new product will facilitate a smooth transition from Web2 to Web3.
“Another milestone in making Web3 wallets secure and easy to adopt. Circle’s Programmable Wallets (a development platform for building smart wallets) now supports onboarding and authentication using Social Logins and Email OTP. This is a huge step forward in making Web3 accessible to Web2 users.”
Earlier this month, market intelligence firm Kaiko said USDC is now the most popular stablecoin among all regulated dollar-backed crypto assets.
However, Kaiko noted that unregulated stablecoins still dominate the market, a phenomenon that could change with the European Union’s Markets in Crypto Assets (MiCA) regulation.
“Currently, non-compliant stablecoins dominate the market, accounting for 88% of all stablecoin trading volume. MiCA could change this balance as exchanges and market makers prefer compliant stablecoins over non-compliant alternatives.”
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