Circle CEO: USDC has replaced part of internal fund settlements previously done via wire transfers, and will be opened to more enterprises in the future
ChainCatcher News: Stablecoin issuer Circle CEO Jeremy Allaire posted on X that Circle has begun using its own platform to process internal fund settlements. Through USDC and Circle Mint, approximately $68 million in intercompany settlements have been completed among eight entities, with the entire process taking less than 30 minutes and operating 24/7. This method replaces the traditional fiat wire transfer process, which typically takes 1–3 days, and provides full control and audit capabilities. Currently, 90% of the company's transfer pricing settlements can be completed within one day. As Circle Mint continues to be updated, this type of real-time settlement model based on stablecoins is expected to be available to more enterprises in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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