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Circle CEO: Has used USDC to replace part of the internal fund settlement for wire transfers, and will open it to more businesses in the future
The CEO of stablecoin issuer Circle, Jeremy Allaire, posted on the X platform that Circle has begun using its own platform to handle internal fund settlements. Approximately $68 million in inter-company settlements have been completed between eight entities using USDC and Circle Mint, taking less than 30 minutes and operating 24/7. This method replaces the traditional fiat wire transfer process, which typically takes 1 to 3 days, and provides complete control and auditing capabilities. Currently, 90% of the company's transfer pricing settlements can be completed within a day. As Circle Mint's features continue to be updated, this real-time settlement model based on stablecoins is expected to be opened to more businesses in the future.
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