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Financial services software provider Finastra has announced a strategic collaboration with Circle Internet Group, Inc. (NYSE: CRCL), a global fintech company and leading stablecoin issuer, to integrate USDC settlement into bank payment flows.
The partnership will initially connect Circle’s infrastructure to Finastra’s Global PAYplus (GPP) platform, which processes more than US$5 trillion in cross-border transactions daily. The move is designed to give banks faster, cost-effective international transfer capabilities while reducing dependence on traditional correspondent banking networks.
USDC, issued by Circle through regulated affiliates, is a fully reserved stablecoin designed to maintain a stable value and deliver near-instant settlement. By linking to Circle, Finastra aims to offer banks the ability to settle in USDC even when payment instructions remain in fiat currencies, combining blockchain technology with existing banking processes.
Chris Walters, CEO, Finastra
"This collaboration is about giving banks the tools they need to innovate in cross-border payments without having to build a standalone payment processing infrastructure. By connecting Finastra's payment hub to Circle's stablecoin infrastructure, we can help our clients access innovative settlement options."
– Chris Walters, Chief Executive Officer At Finastra
Jeremy Allaire, Co-Founder, Chairman & CEO, Circle
"Finastra's reach and expertise in powering the payments infrastructure for leading banks worldwide makes them a natural choice to further expand USDC settlement in cross-border flows. Together, we're enabling financial institutions to test and launch innovative payment models that combine blockchain technology with the scale and trust of the existing banking system."
– Jeremy Allaire, Co-Founder, Chairman And Chief Executive Officer At Circle
Finastra, backed by Vista Equity Partners, serves more than 8,000 clients, including 45 of the world’s top 50 banks, across 130 countries. Its portfolio includes solutions for lending, treasury, payments and universal banking.
Circle, founded in 2013, operates one of the largest stablecoin networks and issues USDC and EURC. The company provides infrastructure and services to integrate stablecoins and public blockchains into payments, commerce and financial applications worldwide.
