Ivy Integrates Circle's USDC EURC Stablecoins for Instant Payments

Ivy, a German startup specializing in instant payments, has announced the integration of Circle's USDC and EURC stablecoins into its transaction rails. This move positions Ivy as one of the first instant bank payment platforms to facilitate seamless settlement in these stablecoins. The Berlin-based fintech's platform is designed to enable crypto firms, payment service providers (PSPs), and e-commerce merchants to make instant bank payments, settle funds into local collection accounts across Europe in multiple currencies, and convert them into stablecoins effortlessly.

The addition of USDC, the second-largest dollar stablecoin, and EURC, the largest euro stablecoin, to Ivy's platform underscores the growing importance of stablecoins in the digital payment ecosystem. Stablecoins have become a crucial component of crypto trading, bridging the gap between the blockchain industry and traditional banking systems. Circle, which completed an IPO in the U.S. this year, has been focusing on global payments and remittances, launching the Circle Payments Network (CPN) in April to enhance its payment capabilities.

Ferdinand Dabitz, CEO and co-founder of Ivy, emphasized the synergy between real-time payment rails and stablecoins. "Real-time payment rails and stablecoins belong together," Dabitz stated. "Hundreds of merchants are already building on Ivy’s global API for instant bank payments. With native support of Circle’s USDC and EURC, our customers can now instantly mint and burn USDC directly from fiat via a 24/7/365 settlement layer." This integration allows for continuous and efficient transactions, enhancing the overall user experience and operational efficiency for Ivy's clients.