With the support from Circle, Ivy has expanded its services to allow customers to interact with and exchange stablecoins on-demand.
Ivy’s API Enhances Flexibility for Financial Transactions
Crypto platforms, trading applications, and global e-commerce merchants can now benefit from instant bank transfers and manual bank payments facilitated by Ivy’s API. These services enable the settlement of funds into local collection accounts in Europe across multiple currencies including EUR, GBP, USD, SEK, and DKK. Furthermore, users have the flexibility to issue payouts in either fiat or stablecoins.
Circle’s USDC and EURC are now accessible through Ivy’s network, providing a bridge for real-time conversions between traditional currency and stablecoins. This feature makes cross-border transactions faster and more efficient, supporting the broader shift towards an inclusive financial system.
Strengthening the Utility of Stablecoins in Europe
Circle emphasizes that this partnership enhances the usability of USDC and EURC in European markets. By enabling real-time conversions between fiat and stablecoins, businesses can take advantage of increased flexibility, speed, and transparency in their global financial operations.
USDC is a fully reserved digital dollar redeemable 1:1 for USD, backed by highly liquid cash and cash-equivalent reserves held at regulated financial institutions. Circle provides regular attestations to ensure its reserve composition remains transparent and trustworthy for Ivy’s users.
Tackling Legacy Payment System Inefficiencies
Recent data shows that global stablecoin payment volumes have surpassed USD 27.6 trillion, eclipsing combined Visa and Mastercard transaction volumes in 2024. This underscores the need to integrate real-time payment networks with stablecoins to expedite transactions, reduce costs, and increase accessibility.
New Standards for Global and Instant Money Movement
Ivy highlights that the integration of Circle’s EURC and USDC into its platform aims to establish a new benchmark for money transfer. By offering 24/7/365 settlement capabilities, Ivy customers can mint and burn stablecoins from fiat instantly, further solidifying their commitment to global financial innovation.
