just now
Digital assets payments platform BVNK has partnered with financial technology firm Circle to integrate the USD Coin (USDC) stablecoin more deeply into its payment services, with the aim of streamlining global business payments.
BVNK customers have been able to access USDC on the platform since 2021. The expanded partnership will allow businesses to use USDC for a wider range of payment use cases, including global payroll and large-scale payouts to customers and contractors.
USDC is a fully reserved dollar stablecoin, backed 100% by liquid cash and cash-equivalent assets, and redeemable 1:1 for U.S. dollars. Reserves are held at regulated financial institutions, with monthly attestations published by third parties. BVNK said that for its EU-based customers, access to USDC complies with the Markets in Crypto-Assets Regulation (MiCA), the European Union’s regulatory framework for crypto assets.
Global stablecoin payment volumes have increased tenfold since 2020, reaching USD 2.5 trillion annually earlier this year. BVNK said its collaboration with Circle is intended to meet growing customer demand for faster cross-border payments by reducing costs, improving transaction times, and providing near-instant settlement while maintaining price stability.
Chris Harmse, Co-Founder and Chief Business Officer at BVNK, said: “Our partnership with Circle reflects our shared vision to accelerate the global movement of money in a safe and compliant way.”
