Corpay partners with Circle Group to expand stablecoin access

Corporate payments company Corpay has joined forces with a subsidiary of fintech firm Circle Internet Group to incorporate the use of stablecoins in its cross-border payment services.

The tie-up will enable the use of US Dollar Coin (USDC) within Corpay's payment infrastructure, granting businesses with the ability to access 24/7 settlement times and features of blockchain technology.

The implementation will involve integrating Circle Mint and associated APIs into Corpay's platform.

The integration allow clients to fund their digital wallets that are branded by Corpay and powered by Circle Wallets, facilitating blockchain settlements and currency conversions.

Overall, businesses can fund transactions in USDC (and where available, EURC), enabling payouts in local currencies in more than 80 countries.

Additionally, Corpay is developing a system to allow its commercial card products, such as fleet, purchasing, and travel cards, to access USDC balances directly.

Transactions will be processed and authorised on the blockchain, with an automatic settlement into fiat currency, the company said in a press release.

Corpay Cross-Border Solutions group president Mark Frey said: “By working with Circle and adding USDC to our funding and disbursement capabilities, we’re giving our clients a new real-time option that complements the payment networks they already trust.

“This collaboration will unlock programmable controls and 24/7 liquidity without changing the way they transact today.”

Circle chief business officer Kash Razzaghi stated: “Working with Corpay represents the next evolution of how businesses move money globally—faster, more transparently, and with the power of blockchain infrastructure.

“By embedding USDC into Corpay’s robust network, we’re delivering enterprise-grade stablecoin utility across card payments and cross-border FX, all while upholding the compliance and reliability standards that global businesses demand.”

Last month, Corpay unveiled plans to acquire B2B cross-border foreign exchange solutions provider Alpha Group International for an enterprise value of $2.2bn.

The addition of Alpha's Corporate FX division, which operates in Europe, Canada, and Australia, is expected to enhance Corpay's current cross-border payment offerings.

"Corpay partners with Circle Group to expand stablecoin access" was originally created and published by Electronic Payments International, a GlobalData owned brand.

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