Circle began using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers via USDC, CEO Jeremy Allaire said Saturday.
The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC. The company’s treasury team used the system to perform intercompany transfer pricing (routine internal payments between subsidiaries) that would normally be handled by bank transfer.
These transfers often take one to three days to settle and depend on banking hours and cut-off windows. Meanwhile, stablecoin settlement occurs around the clock and the company completed transfers in less than 30 minutes, Allaire said in the X post.
In the first month of using the setup, Circle transferred more than $68 million in 11 transactions between eight entities. The company said about 90% of its transfer pricing business is completed in a single day.
Treasury teams executed payments using role-based permissions and approval workflows within Mint, a setup designed to mirror common controls in enterprise banking portals. The platform also produces transaction-level reporting aligned with bank statement standards, allowing accounting teams to reconcile on-chain transfers with internal ledgers and external accounting systems.
A persistent challenge in business-to-business transfers is that of “funds in transit,” where funds leave an entity but cannot yet be counted as available by the recipient while the payment is being made. Stablecoin settlement reduces this gap because transfers are confirmed within minutes.
Circle said Mint’s next updates will focus on multi-entity treasury operations, including easier transfers between accounts and APIs that connect transaction reporting to accounting systems such as Oracle.
The changes are expected to roll out in March, the company said in a blog post.
