Circle shifts $68 million in internal payments using its USDC stablecoin

Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using USDC, CEO Jeremy Allaire said Saturday. The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC, and replaced bank wires that often take days to settle.

In the first month of using the setup, Circle moved more than $68 million across 11 transactions between eight entities and completed the transfers in under 30 minutes. Bank wires commonly take one to three days and depend on banking hours and cut-off windows; Circle said roughly 90% of its transfer pricing activity was completed within a single day.

Treasury teams ran the payments with role-based permissions and approval workflows inside Mint, a setup designed to mirror controls common in corporate banking portals.

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