Financial services software firm Finastra has announced a collaboration with Circle Internet Group, the issuer of the USDC stablecoin, to enable banks to integrate USDC settlement into cross-border payment flows. This partnership will leverage Finastra's payment hub solutions, including Global PAYplus (GPP), marking the first time Finastra connects financial institutions to Circle's blockchain-based payment infrastructure.
The initiative targets Finastra's network of financial institutions, which currently process over $5 trillion in daily cross-border transactions. Through this collaboration, GPP customers will be able to settle transactions in USDC even when payment instructions remain denominated in fiat currencies. This reduces reliance on traditional correspondent banking networks, accelerates settlement times, and maintains compliance and foreign exchange processes.
Chris Walters, CEO of Finastra, stated: "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." Jeremy Allaire, co-founder and CEO of Circle, emphasized Finastra's role in expanding USDC's global footprint, calling it a "natural choice to further expand USDC settlement in cross-border flows."
The news follows Circle's recent fiscal Q2 2025 results, which showed significant growth: USDC circulation surged 90% year-over-year to $61.3 billion, reaching $65.2 billion by August 10, 2025. Total revenue and reserve income grew 53% to $658 million, though the company reported a net loss of $482 million primarily due to non-cash charges related to its June IPO.
