USDC supply jumps $2B as Circle expands, while USDT quietly shrinks

Nium and Circle Technology Services have announced a partnership to link USDC-based settlement with local-currency payouts for institutions moving money across borders.

Nium said the deal brings it into the Circle Payments Network as a global payout partner, giving financial institutions on CPN access to Nium’s payout infrastructure in more than 190 countries and 100 currencies.

Nium joins Circle payments network

Under the partnership, Nium said that institutions using CPN can route payments via Circle’s network into Nium’s payout system with a single integration. The company said the setup includes FX optimization and smart routing, which reduces the need for firms to manage several local payout providers across different markets.

Circle said its network provides regulated USDC-powered settlement with compliance controls for institutional users. Nium said its role is to handle last-mile delivery in local currencies through bank accounts, wallets, and cards.

The companies said the partnership is designed to solve a long-running problem in cross-border payments, where fast settlement does not always lead to reliable local delivery. Through CPN, Nium said that institutions can avoid maintaining funds in multiple prefunded accounts across multiple payment corridors.

Stablecoin settlement meets local payouts

Prajit Nanu, founder and CEO of Nium, said the partnership combines Circle’s regulated settlement instrument with Nium’s payout reach.

Circle chief commercial officer Kash Razzaghi said financial institutions are looking to stablecoins to address payment problems that have remained costly and slow for years.

Circle expands regulated stablecoin services

The partnership comes as Circle continues to expand its institutional stablecoin services. As previously covered by crypto.news, Circle rolled out stablecoin settlement services for institutions after securing regulatory approval in Luxembourg.

According to the report, the expansion followed Circle’s April 15 registration as a Crypto Asset Service Provider with Luxembourg’s financial regulator. The approval allows regulated conversion between fiat currencies and stablecoins for institutional clients.

Support currently includes Circle’s USDC, Paxos-issued USDG, and Banking Circle’s euro-pegged EURI token. Banking Circle first introduced EURI in August 2024 before adding more stablecoin settlement options.

Banking Circle said its infrastructure serves more than 750 payment firms, financial institutions, and marketplaces. The company also said it processes more than €1.5 trillion, or about $1.7 trillion, in annual transaction volume.

Kirit Bhatia, Banking Circle’s chief digital asset officer, said stablecoins are “a natural extension” of the bank’s existing systems. In the same release, Bhatia said stablecoins can help lower costs and improve settlement efficiency.