Ivy enables immediate access to stablecoins for Circle users
In a groundbreaking move, Ivy, a leading European payment infrastructure provider, has partnered with Circle, a renowned stablecoin issuer, to transform the landscape of cross-border payments in Europe. This collaboration aims to integrate USDC stablecoins and real-time payment systems, creating a seamless, efficient financial infrastructure.
At the heart of this partnership lies the introduction of borderless bank accounts supporting native USDC settlements. These accounts, accessible to businesses in the decentralized and Web3 economy, enable instant cross-border transactions in USDC, along with traditional fiat currencies. This innovation eliminates the reliance on slow legacy payment rails, providing businesses with unprecedented speed and flexibility.
Ivy's robust API infrastructure empowers companies such as crypto platforms, e-commerce merchants, and payment service providers to perform instant international transactions. These can be settled to local European accounts in multiple currencies, including USD, EUR, GBP, SEK, and DKK.
The real-time conversion and settlement in stablecoins, such as USDC or EURC, is another key feature of this partnership. Upon receiving fiat payments in local accounts, businesses can convert these instantly into stablecoins and make payouts either in fiat or stablecoins. This conversion and settlement happen 24/7/365, offering liquidity and speed unattainable with traditional payment methods.
The partnership addresses the common issues with traditional cross-border payment systems, such as delays, high fees, and numerous intermediaries, by providing a more transparent, cost-effective, and inclusive framework. It also boosts efficiency for fintechs and payment service providers operating in Europe, granting them access to fast euro-to-stablecoin conversions and instant settlement capabilities, enhancing treasury management and remittance processes.
The integration of Europe's real-time payment systems with stablecoins is expected to make payments faster, cheaper, and more accessible. It responds to the growing demand for stablecoin payments, which have surpassed traditional payment volumes of networks like Visa and Mastercard, indicating a shift towards digital dollar-based payment systems globally.
Sanja Kon, VP Partnerships & Business Development at Circle Europe, supports the connection of real-time payments and stablecoins in Europe. She states, "This partnership creates a new standard for the global movement of money by combining Ivy’s real-time payment infrastructure with Circle’s widely trusted stablecoins, enabling businesses across Europe to execute cross-border payments instantly, with reduced friction and improved financial transparency."
In conclusion, the Ivy-Circle partnership is set to revolutionize cross-border payments in Europe, offering businesses increased efficiency, speed, and transparency in global payments. The integration of real-time payment systems with stablecoins promises to accelerate the transition to a more open and inclusive financial system in Europe.
The partnership between Ivy and Circle introduces borderless bank accounts for businesses in the decentralized and Web3 economy, enabling instant cross-border transactions in USDC and traditional fiat currencies. This finance business innovation eliminates the reliance on slow legacy payment rails and reduces the common issues with traditional cross-border payment systems, such as delays, high fees, and numerous intermediaries.
The integration of Europe's real-time payment systems with stablecoins, like USDC, is a significant step in the technological advancement of cross-border payments. This advancement responds to the growing demand for stablecoin payments, which have surpassed traditional payment volumes of networks like Visa and Mastercard, indicating a shift towards digital dollar-based payment systems globally.
