Circle Seeks to Integrate USDC, EURC Into SAP Corporate Payments
Summary
- Circle plans to integrate USDC and EURC into SAP’s payment environment, allowing companies that use SAP treasury software to send and receive stablecoins.
- Circle said the SAP ecosystem handles 84% of global commerce, meaning the integration could broaden the use of stablecoins in corporate payments and treasury management.
- The partnership comes after the launch of the mainnet for Arc, a layer-1 blockchain focused on payments and financial markets, which uses USDC for transaction fees and supports multiple stablecoins.
Stablecoin issuer Circle is moving to integrate the US dollar-backed USDC and euro-backed EURC into the payment environment of enterprise software company SAP.
Circle has partnered with Tereina, a financial services company backed by SAP, Cointelegraph reported on October 7. The companies plan to link payment functions so businesses using SAP treasury software can send and receive USDC and EURC within their existing workflows.
Tereina provides infrastructure that allows companies to process payments inside enterprise software. The two companies plan to begin integration testing with clients in the coming months. Key testing areas include cross-border payments and corporate treasury operations.
The companies said the SAP ecosystem handles 84% of global commerce. Through the partnership, Circle plans to bring stablecoins into payment and cash-management operations for companies that use SAP.
The tie-up comes less than a month after Circle launched the mainnet for Arc, a layer-1 blockchain focused on payments and financial markets. Arc uses USDC to pay transaction fees and supports more than 20 fiat-linked stablecoins, including USDC and EURC.
YM Lee
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