Circle has completed an internal settlement of $68 million using USDC in less than 30 minutes.

PANews reported on March 7th that Circle CEO Jeremy Allaire stated on the X platform that the company has begun processing internal fund settlements through its own platform. Circle recently completed approximately $68 million in inter-company settlements between eight of its entities using USDC and Circle Mint. The entire process took less than 30 minutes and can operate 24/7. This method replaces the traditional fiat currency wire transfer process, which typically takes 1-3 days, while maintaining full control and auditing capabilities. Allaire stated that as Circle Mint continues to update its functionality, this real-time enterprise settlement model based on stablecoins is expected to be available to more companies in the future. Currently, approximately 90% of the company's transfer pricing settlements can be completed within one day.