Circle has announced two important partnerships with Mastercard and Finastra for the integration of stablecoins into the financial system.
New Partnerships Between Circle, Mastercard, and Finastra
Circle has announced new agreements with Mastercard and Finastra aimed at expanding the use of USD Coin and Euro Coin in the realm of payments worldwide. Mastercard stated that it will enable merchants and acquirers in Eastern Europe, the Middle East, and Africa to settle transactions in USDC and EURC. Arab Financial Services and Eazy Financial Services will be the first to adopt the service, marking the first implementation of stablecoin settlements in the region.
Expanding the Use of USDC
Finastra also announced the integration of USDC into its Global PAYplus platform, which processes over $5 trillion in cross-border transactions daily. This integration will allow banks in 50 countries to settle international payments in USDC, even when payment instructions remain denominated in fiat currency.
Circle's Global Strategy for Stablecoin Adoption
Circle has been expanding its partnerships since the passage of the GENIUS Act in the US Congress, which established the first federal framework for stablecoins in the country. In July, Circle announced a partnership with the OKX exchange, which introduced zero-fee conversions of USDC to US dollars, enhancing the stablecoin's liquidity in international markets. In August, Circle also explored integration opportunities in South Korea and formed a joint venture with SBI Group and Ripple to promote USDC adoption in Japan.
The agreements between Circle and Mastercard represent a significant step toward broader adoption of stablecoins in the international financial system and may enhance payment operations for banks and merchants.
