One of Europe's pioneers of the regulated blockchain banking sector Bank Frick has added support for USD Coin (USDC) payments, trades and custody service.
From now on, the bank's clients can invest in USDC and store the stablecoin in cold storage wallets.
Stefan Rauti, Head of Blockchain Banking at Bank Frick says compared to the classic SWIFT procedure, the processing time with USDC "is significantly reduced."
"With the addition of USDC, we enable our customers to process USD payments quickly and token-based," Rauti added.
iHodl reported that over $200 billion was transferred via Tether (USDT) last year.
The most significant quarterly increase occurred between the first quarter of 2019 and the second quarter, when the value of transfers made via the most popular stablecoin in the market grew by 220%, from $17.4 billion to $55.7 billion.
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