Finastra, a global provider of financial services software, has announced a partnership with Circle, a financial technology company and issuer of the USDC stablecoin. The collaboration will allow banks to use USDC for settlement in cross-border payments through Finastra’s payment hub solutions, starting with its Global PAYplus (GPP) system. USDC is a regulated and fully backed stablecoin designed to maintain a fixed value. By linking GPP to Circle’s infrastructure, Finastra will give banks the option to settle transactions in USDC, while payment instructions can still begin and end in fiat currency. Finastra’s GPP processes more than $5 trillion in cross-border transactions daily. The new integration gives financial institutions the ability to reduce dependence on traditional correspondent banking models. Using USDC for settlement can shorten transaction times and provide a more direct alternative for international transfers, while continuing to operate within established regulatory frameworks. Image: Freepik