Banks Get Blockchain Tools to Revolutionize $5T Cross-Border Payments

Circle Internet Group has partnered with Finastra, a leading financial technology firm, to integrate USDC stablecoin into Finastra’s Global PAYplus (GPP) platform, facilitating faster and more cost-effective cross-border payments. The GPP platform, which processes over $5 trillion in daily cross-border transactions, will now offer settlement in USDC while allowing payment instructions to remain in fiat currency. This collaboration aims to reduce reliance on traditional correspondent banking networks, which are often criticized for high fees and slow processing times [1].

The integration underscores the increasing adoption of stablecoins by financial institutions as a viable alternative to conventional settlement methods. USDC, one of the most prominent stablecoins, is currently the second largest with a supply of $69 billion. Its adoption is being driven by its regulated and transparent structure, supported by monthly attestations from independent auditors confirming a 1:1 peg to the U.S. dollar [2]. This transparency, coupled with regulatory compliance, has made USDC a preferred option for institutions seeking to leverage blockchain technology in their payment systems.

Finastra’s CEO, Chris Walters, emphasized that the partnership provides banks with the tools to innovate in cross-border payments without requiring them to develop standalone payment processing infrastructure. By connecting Finastra’s payment hub to Circle’s stablecoin infrastructure, financial institutions can now test and launch new payment models that combine blockchain technology with the existing banking ecosystem [3]. This development aligns with broader industry trends, as stablecoins continue to demonstrate their potential in streamlining global financial transactions.

Circle’s CEO, Jeremy Allaire, noted that Finastra’s extensive reach and expertise in powering payment systems for leading banks make it an ideal partner to expand USDC’s use in cross-border transactions. Together, the two firms are enabling financial institutions to explore new models that integrate the speed and efficiency of blockchain with the trust and scale of traditional financial systems [4]. This collaboration is part of a broader effort by Circle to expand the adoption of USDC in global payments, including recent partnerships with Mastercard and OKX.

The shift toward stablecoin-based settlements is also supported by evolving regulatory frameworks, such as the U.S. GENIUS Act, which provides a federal regulatory structure for stablecoins. This legislative development, combined with the increasing demand for efficient cross-border payment solutions, has created a favorable environment for the adoption of stablecoins like USDC. According to forecasts from Coinbase, the stablecoin market is expected to grow to $1.2 trillion by 2028, driven by regulatory clarity and rising corporate adoption [5].

This strategic move by Finastra and Circle is expected to have a significant impact on the cross-border payment landscape. By leveraging the advantages of blockchain technology—such as 24/7 availability, instant settlements, and lower costs—financial institutions can offer more efficient and scalable solutions to their clients. The collaboration also highlights the growing importance of stablecoins in bridging traditional finance and the digital economy, setting the stage for further innovation in global financial services [6].

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[1] title1 (https://www.coindesk.com/business/2025/08/27/finastra-taps-circle-to-bring-usdc-settlement-to-usd5t-global-cross-border-payments)

[3] title3 (