Finastra, a major fintech provider for global banks, announced it is integrating Circle’s USDC stablecoin into its payments hub, Global PAYplus. The system processes more than $5 trillion in daily cross-border transactions, and the integration will allow banks to settle in USDC while retaining fiat-based payment instructions.
The partnership aims to reduce reliance on traditional correspondent banking networks, often criticized for high costs and slow processing. Stablecoins such as USDC offer near-instant, low-cost settlement using blockchain rails. With a $69 billion circulating supply, USDC is the second-largest stablecoin globally.
Chris Walters, CEO of Finastra, said the move provides banks with the tools to innovate without building standalone systems. The integration aligns with growing institutional interest in stablecoins, with companies like Stripe and PayPal already launching their own solutions. Coinbase projects the stablecoin market could grow to $1.2 trillion by 2028, highlighting the importance of initiatives like Finastra’s in global payments modernization.
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