Circle has expanded its payment network by adding new payout corridors in India, Singapore, the UAE, the EU, the Philippines, and the U.S. This expansion, announced this week, involves partnerships with regulated local entities to facilitate near-instant domestic transfers through systems like SEPA, FAST, and Fedwire. The initiative aims to support banks, payment firms, VASPs, and enterprises in achieving compliant cross-border settlements using stablecoin funding, including USDC.
In India, Circle's network now supports local currency payouts via NEFT, IMPS, and RTGS, while Singapore's integration through Tazapay enables FAST payouts. The Philippines corridor, managed by Coins.ph, facilitates rapid peso transfers. In the UAE, LuLu Financial Holdings supports AED payouts using FTS rails. European payouts are streamlined through SEPA transfers, and in the U.S., Tazapay facilitates USD payouts via Fedwire. This expansion enhances Circle's operational coverage, focusing on enterprise-level transactions rather than consumer services.
Circle Expands Global Payment Network with New Payout Corridors
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
