Circle Seeks to Integrate USDC, EURC Into SAP Corporate Payments
Summary
- Circle said it has partnered with Tereina, a financial services company backed by SAP, to integrate USDC and EURC into SAP's payment environment.
- The two companies plan to conduct integration testing in the coming months for businesses using SAP treasury software, covering cross-border payments and corporate treasury operations.
- Circle said it plans to bring stablecoin payments to the SAP ecosystem, which handles 84% of global commerce, and supports more than 20 stablecoins including USDC and EURC through Arc, the layer-1 blockchain whose mainnet was launched recently.
Stablecoin issuer Circle is moving to integrate the U.S. dollar-pegged USDC and euro-pegged EURC into SAP's corporate payment environment.
Cointelegraph reported on October 7 that Circle has partnered with Tereina, a financial services company backed by SAP. The companies plan to integrate payment functions so businesses using SAP treasury software can send and receive USDC and EURC within their existing workflows.
Tereina provides infrastructure that allows payments to be processed within enterprise software. The two companies plan to begin integration testing with clients in the coming months. Key test areas include cross-border payments and corporate treasury operations.
According to the companies, the SAP ecosystem handles 84% of global commerce. Through the partnership, Circle plans to bring stablecoins into payment and treasury management operations for companies using SAP.
The partnership comes less than a month after Circle launched the mainnet for Arc, a layer-1 blockchain focused on payments and capital markets. Arc uses USDC for transaction fees and supports more than 20 fiat-linked stablecoins, including USDC and EURC.
