Global partnership formed between Corpay and Circle, aiming to integrate stablecoin transactions into foreign exchange and commercial card networks on a worldwide scale.
Corpay, a leading provider of cross-border payment solutions, has announced a strategic collaboration with Circle Internet Group to integrate Circle's USDC stablecoin into its global payment infrastructure. This partnership aims to offer faster, more transparent, and blockchain-powered transactions for businesses worldwide.
The collaboration will deliver USDC capabilities across Corpay's platform, enabling instant blockchain settlement alongside traditional fiat balances. Clients will be able to manage USDC directly through Corpay's platform via Circle-powered digital wallets, fund transactions in USDC with payouts in local fiat currencies, and use commercial cards that draw balances directly from USDC.
Mark Frey, Group President at Corpay Cross-Border Solutions, stated, "By collaborating with Circle and adding USDC to our funding and disbursement capabilities, we are providing clients with a new real-time option that complements the payment networks they already trust."
Kash Razzaghi, Chief Business Officer at Circle, emphasized, "This collaboration will unlock programmable controls and 24/7 liquidity without changing the way businesses transact today." He further added, "By embedding USDC into Corpay's robust network, we are delivering enterprise-grade stablecoin utility."
The partnership represents a strategic move toward embedding stablecoins into traditional global payment channels. It combines the benefits of blockchain—speed, transparency, 24/7 settlement, and programmability—with Corpay’s established payment infrastructure to accelerate digital dollar adoption and improve international business transactions.
The collaboration extends functionality to Corpay’s commercial card offerings (fleet, purchasing, travel), allowing direct USDC balance draws with onchain authorization and automatic fiat settlement. This bridges blockchain and traditional finance, offering a seamless experience for businesses.
This partnership between Corpay and Circle is intended to offer programmable controls and 24/7 liquidity without altering the way businesses transact today. It is designed to expand stablecoin access across global payment channels and support global foreign exchange transactions using USDC for payouts in local currencies in over 80 countries.
[1] Corpay Press Release: https://www.corpay.com/news/corpay-and-circle-partner-to-expand-stablecoin-access-in-global-payments/ [2] Circle Press Release: https://www.circle.com/en/press-releases/corpay-and-circle-partner-to-expand-stablecoin-access-in-global-payments [3] CoinDesk Article: https://www.coindesk.com/business/2022/06/30/corpay-partners-with-circle-to-expand-stablecoin-access-in-global-payments/
- This strategic partnership between Corpay and Circle will leverage Circle's USDC stablecoin, integrating it into Corpay's global payment infrastructure to enable faster, more transparent, and blockchain-powered transactions for businesses worldwide.
- The collaboration between Corpay and Circle aims to deliver programmable controls and 24/7 liquidity, expanding stablecoin access across global payment channels and supporting foreign exchange transactions using USDC for payouts in local currencies in over 80 countries.
