WASHINGTON (dpa-AFX) - Corpay, Inc. (CPAY) has announced a strategic collaboration with a subsidiary of Circle Internet Group, Inc. to integrate USDC stablecoin into its global payment infrastructure.
The partnership will embed Circle's blockchain-based USDC across Corpay's cross-border pay-in and pay-out systems, enabling 24/7 settlement, improved liquidity, and programmable financial workflows.
As part of the integration, Corpay will adopt Circle Mint and related APIs, allowing clients to manage USDC directly within Corpay's platform. Clients will have access to Corpay-branded digital wallets powered by Circle, enabling instant onchain settlement and seamless currency conversion between fiat and USDC balances. The companies also aim to support global foreign exchange transactions using USDC (and, where available, EURC) with local currency payouts in over 80 countries.
Additionally, Corpay is developing functionality for its commercial card offerings, such as fleet, purchasing, and travel cards, to draw directly from USDC wallets. Each transaction will be authorized onchain and automatically settled in fiat, bridging digital assets with traditional financial systems.
Corpay Group President Mark Frey said the collaboration adds real-time, blockchain-enabled funding and disbursement options without disrupting existing payment workflows. Circle's Chief Business Officer Kash Razzaghi noted that the partnership marks an evolution in global money movement by combining blockchain speed and transparency with Corpay's trusted payment infrastructure.
CPAY closed 1.10% lower at $315.07 on Wednesday and is trading down another 0.89% after hours at $312.26 on the NYSE.
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