Thunes, which claims to be the Smart Superhighway to move money around the world, announced a collaboration with Circle, a digital financial firm and the issuer of stablecoins USDC and EURC via its regulated entities, to enable ongoing innovation in stablecoin liquidity management.
The alliance empowers Members of Thunes’ Direct Global Network to execute cross-border transactions using USDC, enabling transfers in “seconds,” seven days a week.
The use of USDC settlements boosts liquidity and reduces capital costs for Thunes’ Members.
Regulated stablecoins, such as USDC1, are upgrading the financial and payments ecosystem, acting as a bridge between traditional fiat currencies and digital assets.
They offer a reliable medium for enhancing liquidity in payments, mitigating volatility, and facilitating seamless, near-instantaneous transactions across global markets. Such stablecoins leverage the speed, immutability and traceability advantages of blockchain technology, making them a new financial tool for businesses and individuals.
As an adopter of this technology, Thunes will use the power of stablecoins to optimize cross-border transactions and deliver cost-effective payment solutions and “opportunities for growth to Members of its Direct Global Network.”
Thunes’ Direct Global Network allows Members to make payments in real-time in “over 130 countries and more than 80 currencies.”
Thunes’ Network connects to over 7 billion mobile wallets and bank accounts worldwide, via more than 320 different payment methods, ‘such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more.”
Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive “speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally.”
Members of Thunes’ Direct Global Network “include gig economy firms like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks.”
Headquartered in Singapore, Thunes has offices in 15 locations.
Circle is a financial tech firm that enables businesses to harness the power of digital currencies and public blockchains for “payments, commerce and financial applications worldwide.”
Through its entities, Circle is the issuer of USDC and EURC – two of the “fully reserved,” regulated stablecoins accessible as “open money protocols on the internet.”
Circle’s platform offers APIs and SDKs to make it faster for organizations to run their business on the blockchain.