DSRV Teams Up With Circle to Build Exchange-Free USDC Settlement Infrastructure for Institutions

YM Lee

Summary

DSRV said it is working with Circle to upgrade an institutional payment and settlement framework based on USDC and build an on-chain payments infrastructure model.
The company said it is using Circle Mint to enable USDC minting and redemption without going through an exchange, while designing real-time on-chain payment and settlement processes, a global cross-border payments model and ways to apply the system under domestic regulations.
DSRV said it plans to accelerate its shift to commercial infrastructure for institutions based on a 30 billion won Series B investment ($20.6 million) and proof-of-concept projects with NICE, BC Card and Mirae Asset Securities.

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Blockchain infrastructure company DSRV is partnering with Circle to upgrade a USDC-based payment and settlement framework for institutional clients.

DSRV said April 16 that it is using Circle’s enterprise platform, Circle Mint, to streamline USDC minting and redemption and build an on-chain payments infrastructure model that institutions can deploy in real business settings.

Circle Mint allows companies to convert US dollars into USDC and back directly. Companies with Circle Mint accounts can mint and redeem USDC through bank transfers without using a crypto exchange, creating a direct link between the traditional financial system and blockchain networks.

Using that platform, DSRV plans to establish a minting and redemption system that eliminates exchange dependence. It also aims to set out real-time on-chain payment flows and settlement processes. At the same time, the company is designing a global cross-border payments model and ways to apply it under South Korea’s regulatory framework.

The partnership goes beyond a basic technical integration and represents a step toward turning digital-asset payment infrastructure for institutions into a business model, the company said.

DSRV previously raised 30 billion won ($20.6 million) in a Series B funding round joined by Hyundai Motor Co. and Kyobo Group. It has also conducted payment- and finance-related proof-of-concept projects with NICE, BC Card and Mirae Asset Securities. The company plans to use that track record to accelerate its shift to commercial infrastructure for institutional clients.

Seo Byung-yoon, co-chief executive officer of DSRV, said the key to institutional adoption of digital-asset-based payments is not the technology itself, but stability and execution that can be applied in actual business operations. Drawing on its experience working with traditional financial institutions, DSRV will further define a path for introducing USDC-based on-chain payments, he added.