Circle Internet Group began leveraging its robust infrastructure to perform internal treasury operations and completed $68 million in inter-company transfers across eight corporate entities in less than 30 minutes.
Conclusion
- Circle Internet Group completed a cross-company transfer at eight companies in less than 30 minutes using the USDC stablecoin and the Circle Mint treasury platform.
- Transactions have replaced traditional bank wires, which typically take one to three days to settle.
- Circle says the workflow completed about 90% of the internal transfer pricing settlement in a single day, highlighting the potential of stablecoins for corporate treasury operations.
Jeremy Allaire Says Circle Paid $68M Using USDC Because Company ‘Eats Its Own Dog Food’
The development was revealed by Circle CEO Jeremy Allaire in a recent post on X, where he said the company has begun using USDC and the Circle Mint platform to replace traditional bank wires for internal payments.
According to Allaire, the company’s treasury team handled transfers between multiple internal structures in a seamless workflow, allowing funds to move at any time rather than during bank hours.
The process settled $68 million in less than half an hour while maintaining full control and auditing.
Stablecoin-based settlements replace traditional fiat wire transfers, which typically take one to three days to complete through traditional banking channels.
Circle said the move reflects how blockchain-based payments can simplify corporate treasury management. Through Circle Mint, the company’s platform that allows businesses to withdraw and redeem stablecoins and transfer funds, treasury staff can initiate transfers, apply role verification and confirm withdrawals in real time.
The company’s treasury case study describes the workflow as a way to reduce the “cash in transit” gap common in traditional banking systems, where funds may be debited from an entity but not immediately confirmed due to settlement delays.
With USDC settlements, approvals happen in minutes, not days.
Circle said the new system has also speeded up accounting operations. Approximately 90% of intercompany pricing transfer settlements were completed in one day, which significantly reduced the month-end closing process.
The company plans to expand the workflow as additional updates are rolled out to Circle Mint, and Allaire suggests that the model could eventually enable other businesses to adopt stablecoin-based treasury settlement systems.
