Cross-border payments may soon move faster as banks gain access to stablecoin settlement through a new deal between Finastra and Circle. The collaboration will connect USDC, Circle’s dollar-pegged digital token, to Finastra’s Global PAYplus platform.

Finastra Opens Its Network to USDC

Finastra said the integration will allow banks using its payments hub to settle transactions in USDC even when instructions on both sides remain in fiat currency. GPP currently processes more than $5 trillion daily in cross-border payments.

The move offers institutions a way to bypass some of the delays and costs tied to correspondent banking chains while maintaining compliance and foreign exchange processes.

“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,” said Chris Walters, CEO of Finastra.

Jeremy Allaire, Co-founder, Chairman and CEO of Circle, said the tie-up builds on both firms’ strengths: “Finastra’s reach and expertise in powering the payments infrastructure for leading banks worldwide make them a natural choice to further expand USDC settlement in cross-border flows.”

Stablecoins Meet Traditional Banking

USDC is a fully reserved stablecoin regulated to maintain its peg to the dollar. By embedding it into GPP, Finastra aims to give banks the option to test blockchain-enabled settlement within traditional banking rails.

The deal highlights how stablecoins are being positioned not as a replacement but as a complement to established financial systems, with potential to reshape how institutions handle large-scale international payments.

Expect ongoing updates as this story evolves.

Source: Finance Magnates