Circle launches two partnerships to embed stablecoin settlements into mainstream finance. The new agreements with Mastercard and Finastra aim to expand the role of USD Coin among global merchants and banks.
Mastercard announced on Wednesday that it will enable acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in USDC and Euro Coin (EURC). Arab Financial Services and Eazy Financial Services will be the first to adopt this service, marking the first time stablecoin settlement services are offered in the region through Mastercard.
London-based financial software provider Finastra also announced on Wednesday that it will integrate USDC into its Global PAYplus platform, which reportedly processes over $5 trillion in cross-border transactions daily.
According to the company, this integration will allow banks in 50 countries to settle international payments in USDC, even if payment instructions are still denominated in fiat currency.
Since the U.S. Congress passed the GENIUS Act, Circle's USDC has been expanding its partnerships. The act was signed into law in July, creating the first federal framework for stablecoins in the country.
On July 31, Circle announced a partnership with OKX, one of the largest cryptocurrency exchanges in the world, which has a strong presence in Asia, the Middle East, and Europe. The agreement launched a zero-fee service for converting USDC to U.S. dollars, expanding the global liquidity coverage of the stablecoin and making it more attractive to traders in key international markets.
In August, Circle shifted its focus to Asia, with executives meeting with the CEOs of South Korea's four major banks—KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank—to explore the possibility of on-chain integration and issuing a won-backed stablecoin.
The company also formed a joint venture with SBI Group, Ripple, and Startale to promote the adoption of USDC in Japan and develop a tokenized asset trading platform for real-world assets.
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Original article: “Circle Deepens USDC Integration into Global Payments with Mastercard and Finastra”
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