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Circle to Cease Support for Consumer Accounts by 2023!

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Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Circle has announced that it will be ceasing its support for consumer accounts on November 30, 2023. As part of a strategic review, Circle will discontinue wiring and mining functionalities and close accounts that are solely for consumer use. The company did not provide a specific reason for the decision. The move comes after Circle CEO Jeremy Allaire confirmed that most of the company’s business comes from outside the US. Earlier this year, Circle received a Major Payment Institution license from the Monetary Authority of Singapore, allowing it to offer digital payment token services in the country. The company also plans to set up its European headquarters in Paris.

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