USDC Issuer Circle Partners with Finastra to Help Banks Integrate Cross-Border Stablecoin Settlements

Circle Internet Group, the provider of USDC stablecoin, today announced a strategic alliance with Finastra, a London-based financial software company. The partnership enabled the two tech firms to combine their respective blockchain infrastructure and financial payment solutions to boost their cross-border capabilities.

Circle is the issuer of USDC stablecoin and an operator of a Layer-1 blockchain network that runs a suite of tools and services supporting usage and adoption of USDC. On the other hand, Finastra is a global provider of financial software solutions for treasury, payments, lending, capital markets, and banking sectors. It serves multiple financial institutions, from community credit unions to prominent banks across global nations.

Circle Expanding Its Reach Using Finastra Network

By leveraging Circle’s stablecoin infrastructure, this collaboration will enable Finastra’s enterprise customers (banks and various financial institutions) to integrate USDC settlement into their cross-border payment flows. This partnership will utilise Finastra’s payment hub solutions like GPP (Global PAYplus) to link financial companies to Circle’s payment infrastructure and enable them to offer fast, cost-efficient global transfers.  

Based on this collaboration, Finastra will link its GPP clients to Circle’s infrastructure to allow them to settle cross-border payments in USDC stablecoin. This ground-breaking solution provides banks with the option to decrease the dependence on traditional financial systems and expedite payment processing times while ensuring compliance and maintaining FX processes.

This partnership aims to give financial institutions the tools they require to advance cross-border payments without needing to develop a separate payment settlement infrastructure. By linking Finastra’s payment hub to Circle’s stablecoin network, Finastra enables its customers to access advanced settlement alternatives.

Finastra’s in-depth market penetration and expertise in providing payment infrastructure for major banks globally make it a perfect choice for Circle to further widen USDC settlement in cross-border flows. By working together, Circle and Finastra are enabling financial companies to explore and roll out powerful payment models that integrate blockchain with their existing banking networks.

Finastra Helping Banks to Streamline Operations Using Stablecoins

Through the incorporation of Circle’s protocol network, Finastra will enable banking firms to meet surging interest in stablecoins by offering services including settlements, exchanges, and purchasing. This partnership means mainstream banking clients can access the growing virtual currency market without having to leave their well-known banking world.

Interest in stablecoin trading is increasing, and forward-looking organizations are making moves to fulfill this need and bolster their competitiveness. With Finastra, banking institutions can now get to the stablecoin market more rapidly and provide secure services based on the proven blockchain technology. Having Finastra available on Circle’s payment network implies that banks worldwide will be able to introduce their clients to stablecoin services quickly and efficiently. As more people withdraw their funds from banks and pump them into cryptocurrencies, Finastra provides banks with a way to benefit from this rising trend.