Ivy has teamed up with Circle to enable its users to access, convert, and transact with stablecoins in real-time at any time.
By leveraging Ivy’s API, crypto exchanges, trading platforms, and global e-commerce merchants can accept instant bank transfers and manual bank payments. They can also settle funds into local collection accounts across Europe in multiple currencies and convert these funds into EURC or USDC. The available currencies include EUR, GBP, USD, SEK, and DKK. Moreover, users have the option to issue payouts either in fiat currency or stablecoins.
Ivy Customers Now Utilize Stablecoins
Circle believes that this partnership enhances the usefulness of USDC and EURC within Europe, providing businesses with greater flexibility, speed, and transparency in their global financial transactions. By harnessing real-time conversions between fiat and stablecoins, users can tap into new efficiencies in cross-border transactions and hasten their integration into a more inclusive financial system.
USDC is fully collateralized by US dollars held at regulated financial institutions, ensuring a 1:1 redemption ratio. Circle provides regular transparency reports of its reserve composition, offering assurance to Ivy’s customers about the stability and liquidity of these assets. Through this partnership with Circle, Ivy is one of the initial platforms to facilitate seamless settlement in USDC or EURC.
Recently, global stablecoin transaction volumes have reached USD 27.6 trillion, surpassing combined Visa and Mastercard transaction volumes from 2024. This underscores the inefficiencies of traditional payment systems and highlights the need to integrate Europe’s real-time payment systems with stablecoins for faster, cheaper, and more accessible transactions.
Ivy notes that real-time payment networks and stablecoins should complement each other, as merchants are already using Ivy’s global API for instant bank payments. With Circle’s EURC and USDC, Ivy’s customers can now mint and burn stablecoins from fiat through a 24/7 settlement process. The collaboration marks a shared commitment to setting new standards in the movement of money, making it both global and instantaneous.