back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Circle partners with Visa to offer benefits of stablecoins to global businesses

By Pavithra R

December 04, 2020

  • Circle
  • USA
Share

Circle & Visa partner to offer benefits of stablecoins to global businesses Circle has announced partnering with Visa to enable global businesses to take advantage of the combined strength of USD Coin (USDC), a fully-reserved digital dollar stablecoin supported across multiple public blockchains, and Visa’s global payments platform and network.

Under the partnership, Circle will join the Visa FinTech Fast Track program, adding new capabilities & opportunities for it’s global customer base and Visa’s FinTech ecosystem. Currently, USDC is issued only by regulated and licensed FIs that maintain full reserves of assets backing each stablecoin. Circle enables businesses to accept payments and send payouts with traditional payment rails as well as new stablecoin infrastructure.

Circle is also extending the flexibility and convenience of the Circle Business Account with the option to add a Circle Visa corporate card that enables Circle business account holders to spend their USDC at more than 60 mn merchants accepting Visa. Additionally, Circle, as a member of Visa’s FinTech Fast Track program, will offer Circle Account & API customers with a seamless digital dollar stablecoin payout experience to the fast-growing network of Visa partner wallets.

“The collaboration between Circle and Visa represents an important development in the support and integration of mainstream payments platforms with stablecoins and blockchain infrastructure, and will offer significant opportunities to expand their use in commerce, payments and financial applications,” said Jeremy Allaire, Co-founder, CEO and Chairman of Circle.

Both the companies will work together to educate and enable Visa’s global network of FintTech partners in its FinTech Fast Track Program and select marketplace partners looking to leverage the benefits of digital dollar stablecoins for global scale payouts.

“Stablecoins like USDC represent a promising payments innovation and provide an emerging platform for fintechs and digital wallets to enable new payment flows. We are excited to partner with industry leaders like Circle to help connect Visa’s clients to the growing USDC payments ecosystem,” said Cuy Sheffield, Head of Crypto at Visa.

Founded in 2013, Circle is a global FinTech firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments and commerce worldwide. The firm has introduced next-generation payments processing APIs and has combined the benefits of stablecoins and blockchain with traditional forms of payments like cards and banks. The companies will be piloting USDC payouts to participating Visa partner wallets in early 2021.

Previous Article

December 04, 2020

Stripe unveils Stripe Treasury, an API to embed financial services

Read More
Next Article

December 04, 2020

MobiKwik raises INR 520 million; funding led by Hindustan Media Ventures

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 19, 2022

Circle

The Weekly Wrap: all you need to know by Friday COB | August 19th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 19, 2022

6 FinTech Tweets you should see!

Read More

August 19, 2022

PalmPay launches Wallet Safe Workshop to spread payment security awareness

Read More

August 19, 2022

Bond Financial Technologies launches new Credit Builder Card

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022