Circle is bringing its USDC and EURC stablecoins into enterprise payment workflows through a partnership with Tereina, a financial services company backed by SAP. Businesses running SAP's financial software will be able to send and receive both stablecoins without leaving the applications they already use.
Circle has partnered with Tereina, an SAP-backed financial services company, to let businesses move USDC and EURC directly inside the SAP software they use to manage payments. USDC will be the preferred stablecoin for dollar-denominated transactions, while EURC will be available for euro-denominated payments, according to the companies.
Tereina provides payment infrastructure that companies can embed into business software, letting them make payments without switching to a separate financial platform. Circle and Tereina plan to test the integration with customers over the coming months, including for global payments and treasury operations. SAP's ecosystem generates 84% of global commerce, according to the announcement, giving the integration a potentially broad enterprise reach.
The deal comes less than a month after Circle launched the mainnet of Arc, its layer-1 blockchain focused on stablecoin payments and financial markets. Arc uses USDC for transaction fees and supports more than 20 fiat-backed stablecoins, including USDC and EURC.
Source: Circle, Cointelegraph.com News
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