Circle has partnered with Visa to enable businesses around the world to take advantage of the combined strength of USD Coin and Visa’s global payments platform and network.
Under the partnership Circle will join the Visa Fintech Fast Track program, adding powerful new capabilities and opportunities for Circle’s global customer base and Visa’s fintech ecosystem.
USDC is issued only by regulated and licensed financial institutions that maintain full reserves of assets backing each stablecoin. Circle enables businesses to accept payments and send payouts with traditional payment rails as well as new stablecoin infrastructure.
Circle is also extending the flexibility and convenience of the Circle Business Account with the option to add a Circle Visa corporate card that enables Circle business account holders to spend their USDC at more than 60 mn merchants accepting Visa. Additionally, Circle, as a member of Visa’s Fintech Fast Track program, will offer Circle Account & API customers with a seamless digital dollar stablecoin payout experience to the fast-growing network of Visa partner wallets.
Jeremy Allaire, Co-founder, CEO and Chairman of Circle, said:
“The collaboration between Circle and Visa represents an important development in the support and integration of mainstream payments platforms with stablecoins and blockchain infrastructure, and will offer significant opportunities to expand their use in commerce, payments and financial applications”
Cuy Sheffield, Head of Crypto at Visa, said:
“Stablecoins like USDC represent a promising payments innovation and provide an emerging platform for fintechs and digital wallets to enable new payment flows. We are excited to partner with industry leaders like Circle to help connect Visa’s clients to the growing USDC payments ecosystem”
Circle and Visa will work together to educate and enable Visa’s global network of hundreds of fintech partners in its Fintech Fast Track Program and select marketplace partners looking to take advantage of the power of digital dollar stablecoins for global-scale payouts.
