Fintech company Ivy teams up with Circle for stablecoin integration
**Ivy Partners with Circle to Revolutionize International Payments**
In a groundbreaking move, German fintech company Ivy has integrated Circle's USDC (USD Coin) and EURC (Euro Coin) stablecoins into its instant payment rails, marking a significant leap in real-time settlement and conversion between fiat currencies and stablecoins [1][2][3].
This collaboration allows crypto firms, payment service providers (PSPs), and e-commerce merchants to execute instant bank payments and convert funds into stablecoins effortlessly, eliminating the traditional banking hour limitations [2].
The integration brings numerous advantages for international traders:
1. **Instant Settlement:** Cross-border payments and settlements are now faster, as Ivy's platform operates continuously around the clock, eliminating typical delays [1][2][3].
2. **Simplified Currency Conversion:** Ivy supports euro and dollar stablecoins, making it easier for traders to convert between EURC and USDC, facilitating smoother transactions across regions and currencies [2][3].
3. **Reduced Complexity and Risk:** By integrating stablecoins directly into its payment rails, Ivy minimises the need for multiple platforms and intermediaries, thereby lowering the risk of errors and transaction costs for international operations [2][3].
4. **Enhanced Liquidity and Efficiency:** Stablecoin settlements via Ivy offer faster distribution of funds and improved liquidity management for fintechs and PSPs operating in Europe and beyond, streamlining international trade payments [3].
5. **Broader Market Access:** The integration expands access to global markets by bridging traditional banking systems and blockchain-based digital assets, facilitating international trade and remittances [1][2].
In an interview with the Financial Times, Ivy's CEO, Ferdinand Dabitz, stated that the company aims to position itself as the preferred solution for international traders with an "all-in-one" platform for instant payments, banking services, and stablecoin functionalities [4]. By solving problems resulting from the fragmentation of payment traffic, Ivy hopes to harmonise payment processes through stablecoins [5].
This partnership between Ivy and Circle extends Circle's stablecoin offerings, which already include USDC, and introduces the first regulated Euro stablecoin, EURC [6]. With this integration, Ivy aims to provide a consolidated API solution for the problems arising from the fragmentation of payment traffic, thereby offering a more efficient and seamless payment experience for traders worldwide.
[1] https://www.ivy.co/ [2] https://www.circle.com/ [3] https://usdc.circle.com/ [4] https://www.ft.com/ [5] https://www.ivy.co/blog/harmonizing-payment-processes-with-stablecoins/ [6] https://www.circle.com/en/eu-regulated-stablecoin-eurc
- The partnership between Ivy and Circle not only expands the stablecoin offerings, but also introduces technology-driven solutions to revolutionize finance, as they incorporate USDC and EURC stablecoins into Ivy's payment rails.
- This groundbreaking integration in finance technology allows for simplified currency conversion and instant settlement, eliminating traditional banking hour limitations, enabling seamless international transactions for crypto firms, payment service providers, and e-commerce merchants.
