Circle began using its own stablecoin infrastructure to move funds between internal organizations, $USDCCEO Jeremy Allaire said on Saturday.
The transaction was executed through Circle Mint, the company’s minting and redemption platform. $USDC. The company’s finance team used the system to perform intercompany transfer pricing (routine internal payments between subsidiaries) that would normally be handled by bank wire.
These transfers often take 1 to 3 days to clear, depending on your bank’s business hours and cut-off times. Meanwhile, stablecoin payments are being processed around the clock, and the company completed transfers within 30 minutes, Allaire said on XPost.
In its first month using this setup, Circle moved more than $68 million in 11 transactions between eight entities. The company said approximately 90% of transfer pricing activities were completed within one day.
The finance team executed payments using role-based permissions and approval workflows within Mint, a setup designed to mirror controls common in corporate banking portals. The platform also generates transaction-level reports aligned to bank statement standards, allowing accounting teams to reconcile on-chain transfers with internal ledgers and external accounting systems.
One of the persistent challenges in intercompany remittances is “cash transportation.” This is a situation in which funds leave one entity but cannot be recorded as available to the recipient until payment is completed. Stablecoin payments reduce that gap, as transfers are confirmed within minutes.
Circle said future updates to Mint will focus on multi-entity finance operations, such as simplifying transfers between accounts and APIs to connect transaction reporting to accounting systems such as Oracle.
The company said in a blog post that the changes are expected to roll out in March.