Finastra and Circle partner to use USDC for $5 trillion cross-border payment settlement

PANews reported on August 28 that according to Coindesk, Finastra announced that it will integrate Circle's USDC stablecoin to its payment center, allowing banks to make cross-border payment settlements through USDC. The integration was first applied to Finastra’s Global PAYplus (GPP) system, which handles over $5 trillion in cross-border payment traffic every day. The move aims to reduce reliance on expensive proxy networks and provide faster and lower-cost settlement services. Circle’s collaboration with Finastra will help banks combine blockchain technology with the scale and trust of existing banking systems to test and launch innovative payment models.