Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using 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 via bank transfers.
These transfers usually take between one and three days to clear and depend on banking hours and deadline windows. Meanwhile, stablecoin settlement takes place 24 hours a day and the company completed transfers in less than 30 minutes, Allaire said in Post X.
In the first month of using the setup, Circle moved more than $68 million in 11 transactions between eight entities. The firm said approximately 90% of its transfer pricing activity was completed in a single day.
Treasury teams executed payments using role-based permissions and approval workflows within Mint, a setup designed to mirror controls common in corporate banking portals. The platform also produces transaction-level reports aligned with bank statement standards, allowing accounting teams to reconcile on-chain transfers with internal ledgers and external accounting systems.
A persistent challenge in intercompany transfers is “cash in transit,” where funds leave an entity but cannot yet be recorded as available by the recipient while the payment is settling. Stablecoin settlement bridges that gap because transfers are confirmed within minutes.
Circle said Mint’s upcoming updates will focus on multi-entity treasury operations, including easier transfers between accounts and APIs that connect transaction reporting to accounting systems like Oracle.
The changes are scheduled to be implemented in March, the company said in a blog post.
