DSRV, Circle Team Up to Build Exchange-Free USDC Settlement Infrastructure for Institutions

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

DSRV said May 16 that it is using Circle's enterprise platform, Circle Mint, to streamline USDC issuance and redemption and build an on-chain payments infrastructure model that institutions can apply in real-world business settings.

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

DSRV plans to use that structure to build an issuance and redemption system that eliminates exchange dependence and define real-time on-chain payment flows and settlement processes. It is also designing a global cross-border payments model and ways to apply it under South Korea's regulatory framework.

The company said the collaboration goes beyond a simple technical integration and marks a step toward expanding digital-asset payments infrastructure for institutions into an operational business model.

DSRV previously raised 30 billion won ($21.7 million) in a Series B round backed by Hyundai Motor Co. and Kyobo Group. It has also carried out payment and finance-related proof-of-concept projects with NICE and Mirae Asset Securities. Based on that experience, the company plans to accelerate the commercial rollout of infrastructure for institutional clients.

"The key issue when institutions adopt digital asset-based payments is not the technology itself, but stability and execution that can be applied in actual business," DSRV Co-Chief Executive Officer Seo Byung-yoon said. "Based on our experience validating the model with existing financial institutions, we will further define a path for adopting USDC-based on-chain payments."