It appears Circle intends to discontinue wiring and minting functionalities and close consumer accounts by Nov. 30.
Screenshots surfacing on X show that Circle, the issuer of the USDC stablecoin, is seemingly planning to close its consumer accounts.
A screenshot of an email, shared on X by user Evanss6, quotes Circle as saying, “As part of Circle’s strategic review, consumer-only Circle Accounts will no longer be supported.”
It appears Circle intends to discontinue wiring and minting functionalities and close consumer accounts by Nov. 30, as stated in the shared email.
The motivation or rationale behind this unexpected decision remains unclear. The company has yet to respond to our requests for comment or make a public announcement on the matter.
Consequent to this move, only business accounts will be able to mint USDC and redeem USD.
Source: https://thedefiant.io/circle-users-report-the-usdc-issuer-is-shutting-down-consumer-accounts