Circle has introduced the open-source Perimeter protocol, which serves as the basis for creating tokenized lending markets.
“Perimeter Protocol is a set of smart contracts based on generally accepted standards that ensure the seamless exchange of capital in secure and open networks,” the company explained the principle of the technology.
The project was the first development of the company’s new technical division, Circle Research.
According to the announcement, the protocol supports a variety of use cases, including settlement factoring, payroll advances, derivatives trading for institutional investors, and more.
Circle noted that the proliferation of stablecoins has “brought enormous benefits” to developers, corporations and users. However, it is difficult for new market participants to adapt, especially in the field of lending, which requires complex manipulations, representatives of the USDC issuer noted.
Perimeter is designed to simplify this process and make R.W.A.-the market is more customer-oriented.
“With the protocol, we combine real assets and secured or unsecured loans with standards underwriting and permissions in the protocol we created for the public good,” Circle added.
The company also posted the white paper of the project and opened a repository on GitHub.
The developers called on their colleagues to study the documentation and start forking the protocol. The OpenTrade DeFi platform was the first service built using Perimeter.
Circle previously shortened the names of its stablecoins to USDC and EURC.
Let us recall that in August it became known that the company would use $1 billion to strengthen its position in the “stable coin” segment.
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