Circle, the issuer of the USD Coin stablecoin, has partnered with Pockyt, a global payments platform, to offer USDC-based pay-in and payout solutions for merchants worldwide.
This collaboration also incorporates Circle’s programmable wallets, creating a “Web2.5” hybrid approach that bridges traditional financial systems with blockchain-based innovations.
The partnership aims to streamline cross-border transactions using USDC (USDC), a stablecoin pegged 1:1 to the U.S. dollar and backed by liquid reserves. By integrating USDC, Pockyt enables merchants to benefit from faster and more cost-effective payment methods compared to traditional systems.
We’ve teamed up with @pockytio to empower merchants with $USDC and Programmable Wallets to make global transactions move at the speed of the internet. Read more. 👇https://t.co/Yj7xNpXnZC
— Circle (@circle) December 5, 2024
Stablecoins like USDC are becoming increasingly popular in global commerce for their ability to mitigate cryptocurrency volatility while retaining blockchain’s efficiency. This makes them attractive to businesses and consumers alike.
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Circle’s wallets
Circle’s programmable wallets enhance the partnership by providing tools for developers and businesses to manage both digital and fiat assets seamlessly.
Pockyt is introducing wallets to facilitate users’ transition from traditional payment systems to blockchain-based solutions — Web3. This initiative benefits over a million users by enhancing their access to digital financial services.
For merchants, the system offers reduced transaction costs and quicker settlement times, particularly for international payments. Consumers gain a hybrid model combining the familiarity of traditional systems with the advantages of blockchain innovations.
This partnership underscores a broader trend where stablecoins and blockchain technologies are entering mainstream finance, blending established financial practices with the benefits of decentralized solutions.
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