Circle (NYSE: CRCL) has agreed to integrate its flagship stablecoin USDC with a traditional payment platform dubbed “Money Movement Hub” run by a Florida-based fintech firm called FIS (NYSE: FIS), according to a press release published on Monday.

The announcement comes on the heels of the historic passage of the long-awaited GENIUS Act by Congress on July 18. The act allows institutions to create their own stablecoins, but for those who want to take advantage of existing network effects, integrating USDC may be a viable option. At a current market capitalization of nearly $64 billion, USDC is the second largest stablecoin in the world, second only to Tether’s $164 billion USDT.

(Circle went public on the NYSE on June 5, 2025 and Monday’s news of the partnership with FIS appears to have buoyed Circle’s stock / CNBC)

And now, with FIS integrating USDC with the Money Movement Hub, which features multiple payment networks that financial institutions rely on such as bank wires, ACH, and Fednow, we may soon start seeing traditional banks gradually incorporating crypto into their everyday operations.

“With the GENIUS Act now enacted as U.S. law, stablecoins are converging with mainstream finance and institutions are increasingly seeking faster, more transparent and economically efficient ways to move money,” said Circle Chief Business Officer Kash Razzaghi. “Payment stablecoins represent a significant opportunity for U.S. banks to modernize and stay competitive.”

Circle shares were trading at $189, up 2.00% and FIS stock was quoted at $82.13, up 0.36% at the time of writing, according to CNBC. Circle went public on the New York Stock Exchange (NYSE) last month.

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