Circle Partners with Pockyt to Enhance Global Payments Using USDC
Circle, the financial services company behind the USDC stablecoin, has partnered with payments platform Pockyt to enhance international transactions. This collaboration integrates #USDC into Pockyt’s payment network, enabling businesses to utilize stablecoins for pay-ins and payouts.
A Step Forward in Cross-Border Transactions
With a market capitalization of $40.25 billion, USDC is the second largest stablecoin, backed 1:1 by the US dollar. The partnership allows Pockyt merchants to reduce transaction costs and accelerate cross-border payments relative to traditional banking systems. Mason Lin, CEO of Pockyt, stated that integrating USDC equips businesses with tools to expand their offerings.
Lin noted, “By integrating USDC, we’re helping businesses overcome challenges in international transactions. This isn’t just about speed and savings—it’s about giving businesses tools to succeed in a global, digital-first economy.”
For merchants, USDC provides faster settlement times and lower costs, particularly for international transactions. Consumers benefit from a familiar system enhanced by blockchain efficiency and reliability.
Kash Razzaghi, Circle’s Chief Business Officer, emphasized that integrating USDC with Pockyt simplifies global commerce and increases accessibility.
Bridging Traditional Payments and Blockchain
The partnership also includes Circle’s programmable wallets, which integrate traditional payment systems with blockchain technology, creating a "Web2.5" experience.
This integration enables thousands of Pockyt merchants and over a million users to switch seamlessly between traditional and digital payment methods. Programmable wallets provide businesses with tools that facilitate global transactions and promote blockchain adoption.
The collaboration between Circle and Pockyt reflects a trend of increasing mainstream acceptance of stablecoins and blockchain solutions, aiming to transform how businesses engage in global trade.
Additionally, Circle recently became the first stablecoin issuer to comply with Canada’s new stablecoin regulations, successfully meeting requirements to list USDC in the Canadian market. However, this achievement follows recent workforce reductions at Circle, which were described as part of a routine evaluation of investments and expenditures to optimize operations for global expansion.