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Circle CEO: USDC Used to Replace Some Wire Transfers for Internal Fund Settlements, Will Open to More Businesses in the Future
Summary: According to reports, Jeremy Allaire, CEO of stablecoin issuer Circle, announced on X platform that the company has started using its own platform to process internal fund settlements. Through USDC and Circle Mint, approximately $68 million in cross-company settlements were completed among eight entities in less than 30 minutes and can operate 24/7. This method ...
According to reports, Jeremy Allaire, CEO of stablecoin issuer Circle, announced on X platform that the company has started using its own platform to process internal fund settlements. Through USDC and Circle Mint, approximately $68 million in cross-company settlements were completed among eight entities in less than 30 minutes and can operate 24/7. This method replaces the traditional fiat wire transfer process, which typically takes 1-3 days, and provides complete control and audit capabilities. Currently, 90% of the company's transfer pricing settlements can be completed in one day. With ongoing updates to Circle Mint functionality, this real-time settlement model based on stablecoins is expected to open to more businesses in the future.
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Link: Circle CEO: USDC Used to Replace Some Wire Transfers for Internal Fund Settlements, Will Open to More Businesses in the Future [Copy]
