Today financial software firm Finastra announced a collaboration with stablecoin issuer Circle to enable banks to integrate stablecoins into their cross border payment flows.
Finastra has Global PAYplus (GPP), which banks use to process $5 trillion in cross border transactions daily. It plans to help GPP clients to connect with Circle’s stablecoin infrastructure to provide the option of using USDC for settlement even when the two legs of the transaction are in fiat currencies. In other words, banks could choose this route instead of using correspondent banks.
Ledger Insights interviewed Carlos Netto, the CEO of another Circle banking partner, Matera. Don’t miss his incredibly insightful perspectives in an article and transcript of the discussion.
“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. “By connecting Finastra’s payment hub to Circle’s stablecoin infrastructure, we can help our clients access innovative settlement options.”
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