Stablecoin provider, Circle Internet Group Inc (NYSE: CRCL) has begun using its own stablecoin infrastructure to move money internally, settling USD$68 million in transfers using USDC.
Chief executive Jeremy Allaire said on Saturday that the company’s treasury team completed the transfers through Circle Mint. The platform allows companies to mint and redeem the USDC stablecoin.
The payments involved routine transfer pricing between subsidiaries. These internal transactions typically move funds between corporate entities. Traditionally, firms process those transfers through bank wires. However, wire payments often take one to three days to settle.
Meanwhile, stablecoin transactions run continuously without banking cut-off windows. Circle completed the transfers in less than 30 minutes. The company moved more than USD$68 million across 11 transactions during the first month. The transfers occurred between eight corporate entities.
Additionally, Circle said roughly 90 per cent of its transfer pricing activity settled within a single day. That speed represents a major change from traditional banking timelines. Treasury teams executed the transfers through role-based permissions within the Mint platform. The system includes approval workflows similar to those used in corporate banking portals.
Furthermore, the platform generates transaction-level reports that resemble bank statement records. Accounting teams can use those reports to reconcile on-chain transfers with internal ledgers. In addition, the system connects those records with external accounting tools. The integration helps companies maintain standard financial controls while using blockchain rails.
However, traditional intercompany transfers often create a temporary accounting gap known as “cash in transit.” Funds leave one entity but remain unavailable to the recipient until settlement completes.
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Several major firms are testing stablecoins
Stablecoin transfers shorten that window significantly because transactions confirm within minutes. Consequently, treasury teams gain faster visibility into available balances. Meanwhile, Circle said upcoming updates will focus on multi-entity treasury management. Developers plan to simplify transfers between corporate accounts.
Additionally, new application programming interfaces will link transaction reporting with accounting systems such as Oracle. The company said those features should begin rolling out in March.
Several major financial firms are also testing stablecoins to move funds internally and settle payments faster.
Visa Inc (NYSE: V) has begun using the USDC stablecoin to settle transactions between financial institutions on blockchain rails. The payments company launched a stablecoin settlement program that allows partner banks to transfer funds continuously rather than waiting for traditional clearing windows. Further, the network processes these transfers through blockchain infrastructure that operates around the clock. Visa has reported billions of dollars in annualized settlement volume moving through the system as adoption expands.
Meanwhile, Citigroup (NYSE: C) is developing blockchain-based treasury infrastructure designed to move money between corporate entities more quickly. The bank is testing tokenized dollars that allow internal transfers between financial hubs such as New York, London and Hong Kong. Additionally, the system allows treasury teams to shift liquidity between accounts without relying on correspondent banking networks.
The broader stablecoin sector has expanded rapidly in recent years. Global stablecoin circulation now exceeds roughly USD$300 billion.
Analysts expect the industry to grow substantially during the next decade. Several major financial institutions estimate the market could reach roughly USD$1.9 trillion in a base case scenario and potentially approach USD$4 trillion by 2030 as banks, fintech firms and corporations adopt blockchain-based payment rails.
