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Finastra partners with Circle to enable USDC settlement in cross-border payments

Finastra has partnered with Circle to allow banks to settle cross-border transactions using USD Coin (USDC).

The initiative will first be available through Finastra’s Global PAYplus (GPP) platform, which processes more than USD 5 trillion in cross-border payments each day. By connecting banks to Circle’s infrastructure, the integration will support settlement in USDC even when both sides of the transaction remain in fiat currency. The move is aimed at speeding up settlement and reducing reliance on correspondent banking networks, while maintaining compliance and foreign exchange processes.

“This collaboration is about giving banks the tools they need to innovate in cross-border payments without having to build a standalone payment processing infrastructure,” said Chris Walters, chief executive of Finastra. “By connecting Finastra’s payment hub to Circle’s stablecoin infrastructure, we can help our clients access innovative settlement options.”

Jeremy Allaire, co-founder, chairman and chief executive of Circle, said: “Finastra’s reach and expertise in powering the payments infrastructure for leading banks worldwide makes them a natural choice to further expand USDC settlement in cross-border flows. Together, we’re enabling financial institutions to test and launch innovative payment models that combine blockchain technology with the scale and trust of the existing banking system.”

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