Circle uses the USDC platform to settle $68 million internally in just a few minutes

On March 9, Circle Internet Group announced that it completed a total of $68 million in settlements between eight internal entities using its proprietary stablecoin infrastructure, Circle Mint, and USDC, all within less than 30 minutes. Circle CEO Jeremy Allaire stated on X that this demonstrates how companies can leverage stablecoins to replace traditional bank wire transfers, enabling efficient internal cash flow.

According to Allaire, the finance team handles multiple inter-company transfers within a single workflow, allowing funds to move freely at any time without being limited by bank business hours. Settling with USDC not only maintains full auditability but also significantly shortens the traditional bank wire settlement time of 1 to 3 days.

Circle emphasizes that blockchain-based settlement optimizes corporate financial management. Finance personnel can initiate transfers via Circle Mint, apply role-based approvals, and nearly instantly confirm funds have arrived. This approach addresses the “cash in transit” issue in traditional banking systems, where funds are deducted but settlement delays prevent immediate confirmation.

The company’s financial case shows that about 90% of inter-company transfer pricing settlements are completed within a day, greatly speeding up month-end closing processes. With further updates to Circle Mint, Allaire stated that this model could provide other enterprises with stablecoin-based treasury settlement solutions, pushing corporate payments and cash management into a real-time era.

This case highlights the efficiency advantages of USDC in corporate financial operations and demonstrates the potential of blockchain payment tools to accelerate corporate cash flow and reduce operational risks, offering a replicable digital settlement example for global businesses.