Circle has announced a partnership with Mastercard and Finastra aimed at integrating the stablecoin USDC into payment systems across EEMEA. This collaboration is expected to influence international settlements.
Circle and Mastercard Collaboration for USDC Integration
The partnership between Circle, Mastercard, and Finastra, announced on August 28, focuses on integrating stablecoin settlement with USDC into financial services in EEMEA. USDC and EURC will be available for payment settlements in Eastern Europe, the Middle East, and Africa. Partnerships with Arab Financial Services and Eazy Financial Services are planned to positively impact the use of USDC in these regions.
First Stablecoin Service in EEMEA
This initiative by Mastercard and Finastra represents the first stablecoin service in EEMEA. Historically, such developments are often precursors to larger shifts in global financial practices, as shown by previous collaborations between Visa and Circle.
Future of USDC in International Settlements
Circle reports that USDC maintains a stable price point at $1.00 with a market cap of $69.34 billion. Consequently, the integration of USDC with Finastra’s platform, which processes $5 trillion daily, suggests an enhanced position for USDC in international settlements.
The collaboration between Circle, Mastercard, and Finastra could spotlight the application of stablecoins, demonstrating significant changes in global financial practices.
