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Circle CEO: Using USDC to complete $68 million in internal settlements among 8 entities within 30 minutes
Odaily Planet Daily reports that Circle CEO Jeremy Allaire stated that Circle has completed internal entity transfers using USDC through its Circle Mint platform, replacing traditional bank wire transfers. In the first month, Circle transferred over $68 million across 11 transactions between 8 entities. About 90% of the internal transfer pricing activities were completed within a day, whereas traditional bank wire transfers typically take 1 to 3 days. The platform supports role-based permission approval workflows and generates transaction reports that meet bank statement standards, making it easier for accounting teams to reconcile on-chain transfers with internal ledgers and external accounting systems. Circle announced that Circle Mint will launch an update in March for multi-entity fund management, including optimized inter-account transfers and API integrations with accounting systems like Oracle.