Core Insights - Finastra has announced a strategic collaboration with Circle to integrate USDC settlement into cross-border payment flows, enabling banks to innovate in this area [1][2][3] - The integration will utilize Finastra's Global PAYplus (GPP) platform, which processes over $5 trillion in cross-border transactions daily, allowing for rapid and cost-effective international transfers [2][4] - This collaboration aims to reduce banks' reliance on traditional correspondent banking chains, thereby accelerating settlement times while ensuring compliance and foreign exchange processes [2][3] Company Overview - Finastra is a global leader in financial services software, serving over 8,000 customers, including 45 of the world's top 50 banks, across more than 130 countries [4] - The company specializes in various sectors, including Lending, Payments, Universal Banking, and Treasury & Capital Markets, providing mission-critical solutions [4] - Circle is a global financial technology firm that focuses on enabling businesses to utilize digital currencies and public blockchains, issuing stablecoins like USDC and EURC [5]
Finastra and Circle Forge Strategic Collaboration to Bring Stablecoin Settlement to Cross-Border Payments