Finastra announced a strategic collaboration with a subsidiary of Circle Internet (CRCL) Group, to enable banks to integrate USDC settlement into cross-border payment flows. The collaboration will leverage Finastra’s payment hub solutions, including Global PAYplus, or GPP, as the first Finastra solution to connect financial institutions to Circle’s payment infrastructure, offering rapid, cost-effective international transfers. USDC is a regulated, fully-reserved stablecoin, designed to maintain a stable value that provides transparency for near-instant settlement. Finastra will connect its GPP customers – processing over $5T in cross-border transactions daily – to Circle’s infrastructure, enabling settlement in USDC even when payment instructions on both sides remain in fiat currency. This innovation provides banks the optionality to reduce reliance on traditional correspondent banking chains, accelerating settlement times while maintaining compliance and FX processes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRCL:
- Mixed options sentiment in Circle Internet Group Inc with shares up 2.67%
- Crypto Currents: Fed’s Waller sees potential for stablecoins to improve payments
- ‘Circle Is at the Forefront of Rapid Stablecoin Adoption,’ Says Top Analyst
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!
- With Circle Internet Stock (CRCL) Up 345% Since IPO, Two Insiders Sell $12.6M in Shares