Circle has forged two significant partnerships to bring stablecoin settlement into mainstream financial workflows. The company’s collaboration with Mastercard and Finastra aims to unlock USDC’s potential for merchants and banks globally. 🌍
Mastercard announced its integration of USDC and Euro Coin (EURC) for transactions in Eastern Europe, the Middle East, and Africa (EEMEA). Arab Financial Services and Eazy Financial Services will pilot this innovation, marking the first time stablecoin settlement is offered through Mastercard in the region. 🤝
Finastra, a London-based financial software provider, also integrated USDC into its Global PAYplus platform, which handles over $5 trillion in cross-border transactions daily. Banks worldwide can now utilize USDC to settle international payments even when instructions are denominated in fiat currency. 🚀
Circle is driving global adoption of USDC by working with partners after the passage of the GENIUS Act. 🏛️ This legislation, signed into law this past July, created a framework for stablecoins within the United States.
Circle’s recent partnerships include a deal with OKX in August, enabling zero-fee conversions to US dollars and expanding its global liquidity reach. Additionally, Circle actively seeks collaborations in Asia to explore on-chain integrations and a potential won-backed stablecoin. 💰
Circle is also part of a joint venture with SBI Group, Ripple, and Startale in Japan to promote USDC adoption and develop a tokenized asset trading platform for real-world assets. 🇯🇵