We’re excited to announce our new partnership with global financial technology firm, Circle, to bring the utility of USDC to more types of business payments for our customers. 

Since 2021, BVNK customers have been able to access the stablecoin USDC on the BVNK platform. Through this expanded partnership, we aim to integrate USDC more deeply into our payment offerings, enabling businesses to leverage USDC’s speed and stability for a variety of payment use cases. This includes making global payroll more efficient and simplifying large-scale customer and contractor payouts. 

USDC is a fully reserved dollar stablecoin backed 100% by liquid cash and cash-equivalent assets and is redeemable 1:1 for US dollars. The USDC reserves are held at regulated financial institutions with published third party monthly attestations, providing a high level of transparency for BVNK’s customers. For BVNK’s high concentration of customers across the EU, their access to USDC is compliant with the Markets in Crypto-Assets Regulation, or MiCA, the European Union’s comprehensive law governing crypto assets. 

Global stablecoin payment volumes have been growing quickly, increasing tenfold since 2020, reaching $2.5 trillion in annual volume earlier this year. To meet the demand from BVNK’s customers, the collaboration with Circle will streamline payment operations, reduce costs, and ensure faster transaction times across borders. With USDC, businesses can achieve near-instant payments, providing significant advantages over traditional methods that are often subject to delays and costly, while maintaining stability. 

Businesses are diversifying their supply chains, and growing their customer bases globally, but existing payment options don’t always make that easy. Stablecoins like USDC travel on 24/7 blockchains, connecting buyers and sellers globally in an instant. 

Our partnership with Circle reflects our shared vision to accelerate the global movement of money in a safe and compliant way. It also demonstrates the increased demand we’re seeing from our business customers for efficient, secure ways to pay across borders.