Circle Launches Programmable Wallets for Developers

blockchain.news:

Circle, a prominent financial technology company, has announced the launch of Programmable Wallets, a new product designed to bridge the gap between the traditional internet and blockchain networks. The announcement was made on Circle's official blog.

Key Details

Purpose: Programmable Wallets aim to simplify the development of crypto-enabled applications by abstracting complexities such as private key security, blockchain node operations, transaction management, and interoperability across blockchains.

Target Audience: The product is designed for developers, enabling them to embed secure crypto wallets in any application and leverage the speed and global reach of Web3 technology.

Features: The core features of Programmable Wallets include user-controlled wallets, developer-controlled wallets, REST APIs, iOS and Android SDKs, webhooks, a wallet operations dashboard, multiparty computation (MPC) cryptographic security, and blockchain agnosticism. More features, such as Gas Abstraction and Smart Contract Wallets, are expected in the coming months.

Pricing: The pricing model is described as «Pay-as-you-grow,» with a rebate on USDC usage, starting at $0.05 per Monthly Active Wallet.

Context and Background

The launch of Programmable Wallets comes as part of Circle's ongoing efforts to improve user experience with blockchains. Since the launch of USDC, the Open Source digital dollar APIs in 2018, Circle has been working to deliver infrastructure that enhances the blockchain experience. USDC is now in use on multiple networks, and Circle has also unveiled the Cross-Chain Transfer Protocol (CCTP) to enable USDC to flow natively across blockchains. 

Circle's  most well-known stablecoin, USDC, is the fifth largest digital