BVNK Partners with Circle to Enhance Global Business Payments with USDC

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Streamlining international payroll and large-scale payouts with stablecoin solutions.

London, October 2024 — BVNK, the leading digital payment platform for global businesses, is thrilled to announce its expanded partnership with Circle, a global financial technology leader, to bring the utility of USD Coin (USDC) to a broader range of business payments. This collaboration aims to enhance the efficiency and speed of global payroll and large-scale payouts for BVNK’s customers, utilizing the stability and liquidity of USDC.

Since 2021, BVNK has enabled its customers to leverage USDC on its platform, providing them with a secure and scalable payment option. The expanded partnership with Circle deepens this integration, unlocking new payment use cases that deliver the speed, transparency, and cost-efficiency that USDC offers. From global payroll solutions to contractor payouts, businesses can now benefit from near-instant transactions, ensuring a seamless cross-border payment experience.

USDC, a fully-reserved dollar stablecoin, is backed 100% by liquid cash and cash-equivalent assets, with its reserves held by regulated financial institutions. Monthly third-party audits provide BVNK customers with confidence in its 1:1 redeemability for U.S. dollars, further enhancing trust and transparency in stablecoin usage. In line with the European Union’s Markets in Crypto-Assets Regulation (MiCA), BVNK ensures that its customers in the EU can access USDC in full compliance with local regulatory standards.

Global stablecoin transaction volumes have surged in recent years, exceeding $2.5 trillion annually, a tenfold increase since 2020. Responding to this rapid growth, the partnership between BVNK and Circle will simplify payment operations for businesses, reduce transaction costs, and deliver faster cross-border payments. USDC operates on 24/7 blockchains, enabling businesses to connect with global partners instantly, overcoming the delays and high costs traditionally associated with international payments.

“As businesses expand their global supply chains and customer bases, they require efficient, reliable payment options that can keep up with their pace of growth. Our collaboration with Circle reinforces our commitment to offering cutting-edge payment solutions that empower businesses to operate more seamlessly across borders,” said Chris Harmse, Co-Founder and Chief Business Officer of BVNK. “This partnership reflects our shared vision of accelerating the global movement of money in a secure, compliant, and cost-effective manner.”


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