Banks to Gain Access to USDC for Cross-Border Settlements

Banks operating on the Global PAYplus (GPP) platform will soon be able to conduct cross-border settlements in USDC thanks to a partnership between Finastra and Circle.

FinTech companies Finastra and Circle announced a collaboration aimed at introducing USDC settlements into international payment flows. The integration will be implemented through the GPP platform, which processes over $5 trillion in international transactions daily.

Finastra is one of the world’s largest providers of financial services software, serving more than 8,000 clients across 130+ countries, including 45 of the world’s top 50 banks. Its Global PAYplus payment platform is one of the company’s flagship products.

According to the press release, banks will be able to use USDC for settlements even if payment instructions on both sides remain in fiat currency. Thanks to this integration, financial institutions operating on GPP will be able to reduce their reliance on traditional correspondent banks, speed up cross-border transactions, and maintain compliance with currency controls and regulatory requirements.

Finastra CEO Chris Walters emphasized that the goal of the partnership is to provide banks with tools to innovate in cross-border payments without the need to build their own infrastructure. Meanwhile, Circle’s Co-Founder and CEO Jeremy Allaire noted that the collaboration combines the trust and scale of the traditional banking system with the advantages of blockchain technology.

Max Krupyshev, CEO of CoinsPaid, previously highlighted the growing importance of stablecoins for the financial system. In his view, dollar-pegged stablecoins are becoming part of everyday processes for companies and banks, as they address practical tasks in cross-border settlements through stable value, predictable costs, and seamless integration into existing financial infrastructure.

Recently, news broke of a partnership between Mastercard and Circle, under which USDC and EURC stablecoins will be integrated into the acquiring network across Eastern Europe, the Middle East, and Africa.

Сообщение Banks to Gain Access to USDC for Cross-Border Settlements появились сначала на CoinsPaid Media.