Ivy, a German startup that focused on immediate payments said it added access to Circle’s (CIRCL) USDC and EURC-StableCoins for its always transaction rails.
The Berlin-based Fintech’s platform allows crypto companies, payment service providers (PSPs) and e-commerce dealers to immediately make bank payments, settle funds for local collection accounts across Europe in multiple currencies and seamlessly convert them to stablecoins, according to a press release on Wednesday.
The deal makes Ivy one of the first platforms to offer immediate bank payments to enable trouble -free settlement in USDC, the second largest dollar stablecoin, and EURC, the largest Euro stablecoin, the release said.
Stableecoins, which became a practical cornerstone of the crypto trading partly thanks to the difficulty relationship of the blockchain industry to the banking world, becomes a prominent payment mechanism on the Internet. Circle, which this year completed an IPO in the United States, has turned some of its focus into global payments and transfers with the introduction of Circle Payments Network (CPN) In April.
“Real-time payment rails and stableecoins belong together,” said Ferdinand Dabitz, CEO and DO founder of Ivy. “Hundreds of merchants are already based on IVY’s global API for immediate bank payments. With original support for Circle’s USDC and EURC, our customers can now instantly mint and burn USDC directly from Fiat via a 24/7/365 settlement layer.”
