Circle, the issuer of USD Coin (USDC), is strengthening its global payment network by integrating stablecoin settlements into mainstream finance. Through strategic deals with Mastercard and Finastra, Circle aims to position USDC as a key player in international transactions across multiple regions, including Africa, Asia, Europe, and the Middle East.
Mastercard Enables USDC Settlement for Merchants
Mastercard announced that it will allow acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in USDC and Euro Coin (EURC). This marks a significant milestone as stablecoin settlement becomes available through Mastercard’s payment infrastructure for the first time in these regions.
The first companies to adopt the service include Arab Financial Services and Eazy Financial Services, signaling growing confidence in blockchain-based payment solutions.
Finastra, a London-based financial software provider, has integrated USDC into its Global PAYplus platform, which handles over $5 trillion in cross-border transactions daily. This move allows banks in 50 countries to settle international payments in USDC, even if the payment instructions remain denominated in fiat currency.
This hybrid settlement approach ensures that banks can leverage blockchain technology for faster, cost-efficient transactions without disrupting their existing systems.
USDC Adoption Accelerates After GENIUS Act
Circle’s recent momentum comes after the GENIUS Act, passed in July, which established a federal framework for stablecoins in the United States. Since then, Circle has signed multiple partnerships to boost USDC liquidity and global adoption:
- OKX Partnership (July 31): Introduced zero-fee USDC-to-USD conversions, making USDC more attractive to traders in Asia, the Middle East, and Europe.
- Asia Expansion: Engaged with South Korea’s largest banks to explore on-chain integrations and a won-backed stablecoin.
- Japan Collaboration: Joined SBI Group, Ripple, and Startale to promote USDC adoption and develop tokenized asset platforms.
By integrating USDC into global payment systems, Circle is bridging the gap between traditional finance and blockchain-based settlements. This shift could transform cross-border payments, reducing costs and improving speed for businesses worldwide.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.