Circle shifts $68 million in internal payments via its own stablecoin to bypass legacy banks
Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using USDC, CEO Jeremy Allaire said Saturday. The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC. The firm’s treasury team used the system to carry out intercompany transfer pricing —…