Circle CEO: Utilizing USDC to Complete $68 Million Internal Settlement Across 8 Entities in 30 Minutes

Odaily News Circle CEO Jeremy Allaire stated that Circle has completed internal inter-entity transfer settlements using USDC via its Circle Mint platform, replacing traditional bank wire transfers. Within the first month, Circle transferred over $68 million across 8 entities through 11 transactions, with approximately 90% of internal transfer pricing activities completed within one day, whereas traditional bank wires typically take 1 to 3 days. The platform supports a role-based permission approval process and generates transaction reports that comply with bank statement standards, facilitating the accounting team's reconciliation of on-chain transfers with internal ledgers and external accounting systems. Circle indicated that Circle Mint will launch an update in March for multi-entity fund management, including optimized inter-account transfers and API functionality for integration with accounting systems such as Oracle.