OpenPayd partners with Circle to deliver unified fiat and stablecoin infrastructure

Circle has partnered with financial infrastructure provider OpenPayd to deliver a unified platform for managing fiat and stablecoin transactions.

OpenPayd, a financial infrastructure provider that processes more than €130 billion annually, has partnered with Circle, the issuer of USD Coin (USDC).

The partnership will let OpenPayd’s clients easily send and manage money worldwide using both traditional banks and blockchain networks. By leveraging Circle’s scalable, programmable stablecoin infrastructure and wallets, OpenPayd’s clients can quickly convert between regular currencies and USDC, gaining faster access to funds, lower fees, and new ways to handle payments, treasury, and digital assets.

“Stablecoins will be foundational to the next era of financial services, and our partnership with Circle positions us, and our clients, at the centre of that transformation,” said Iana Dimitrova, chief executive of OpenPayd. 

The development is part of Circle’s ongoing efforts to broaden USDC’s adoption and real-world use. Most notably, Circle recently integrated its stablecoin natively on the XRP Ledger, allowing developers, institutions, and users to access it directly on the network, without resorting to bridging.

In another major development, Circle partnered with Latin America’s largest digital bank, Nubank, to launch a 4% annual rewards program for USDC holders at the start of this year. Nubank noted that more than 50% of new crypto users on its platform chose USDC as their first digital asset.

Despite these ongoing efforts to increase USDC adoption, some early investors have already begun offloading Circle’s shares following its IPO. Ark Invest sold shares in two consecutive rounds — offloading $51.7 million on June 16 and another $44.8 million on June 17 across its ARKK, ARKW, and ARKF funds. Additionally, some analysts argue that Circle’s shares are overvalued and will crash soon.