Circle acquires payment services firm Elements

Quick Take

  • Circle has acquired the payment services firm Elements. 
  • The firm made the acquisition with a view to creating a more seamless payment experience. 

Circle has acquired payment services firm Elements as it looks to scale its own offerings.

Jeremy Allaire's firm hopes to lower the barrier to entry for merchants looking to access the next generation of payments. The crypto payments firm and USDC issuer announced the acquisition at an event in San Francisco on Thursday. The terms of the deal were not disclosed.

"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,” Elements founder and CEO Nafis Jamal said in a statement.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Circle launched a cross-chain transfer protocol to support USDC interoperability on Wednesday in San Francisco.

The firm also announced a strategic partnership with Robinhood this week, which includes an integration with USDC.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.