TLDR
- Circle and ACI Worldwide announced a USDC settlement proof of concept on October 27.
- The project pairs Circle’s USDC infrastructure with ACI’s Connetic payment platform.
- Colombia is the first market, because ACI built the core of the Bre-B instant payments network there.
- No banks, launch date or transaction volumes have been named.
- The goal is to show how banks can add stablecoin settlement to systems they already use.
Circle Internet Group and ACI Worldwide have announced a joint project to test how banks can settle payments using USDC, the dollar-backed stablecoin issued by Circle. The work will start in Colombia.
The companies made the announcement on October 27. They described it as a proof of concept, which means it is an early test and not a live commercial service.
The project combines Circle’s USDC infrastructure with ACI Connetic. ACI Connetic is a cloud-based platform that manages transactions across different payment systems, including card payments, traditional transfers and digital assets.
How the USDC Settlement Project Works
The aim is to show how financial institutions can add stablecoin settlement to the tools they already use. This includes systems for payments, treasury management and transaction oversight.
The companies said banks would not need to replace their current systems. USDC settlement would instead run alongside existing payment rails through one platform.
Craig Ramsey, ACI Worldwide’s global head of account-to-account payments, said banks want practical ways to use digital assets. “The conversation around stablecoins is moving from possibility to practicality,” he said.
Ramsey added that institutions want to know how digital asset settlement can fit into “the infrastructure and operating models they already trust.”
Kash Razzaghi, Circle’s chief commercial officer, said financial institutions across Latin America are looking at how stablecoins can support payments and settlement. He called the project “a practical path” for institutions to explore USDC.
Why Colombia Was Chosen
Colombia was picked because ACI built the central infrastructure behind Bre-B. Bre-B is the country’s instant payments network, set up with Banco de la República, Colombia’s central bank.
ACI runs the network’s addressing directory, its 24-hour clearing and settlement engine, and the services that connect participating providers. In March, ACI reported that Bre-B had processed more than 500 million transactions in its first five months.
Those numbers apply to Bre-B’s regular payments only. The new project has not reported any USDC transaction volume or customer activity.
The companies are testing an added settlement option. They have not said that existing Bre-B payments will move onto a blockchain.
Colombia already has some stablecoin products. In September, MoneyGram launched a Visa card there that lets eligible customers hold dollar-linked balances and spend them.
Circle has also said it plans to enter about 40 emerging and developing markets. CEO Jeremy Allaire named Latin America as one region with demand, but Circle has not shared launch dates for those markets.
Many details about the Colombia project remain open. The companies have not named the banks taking part or said whether transfers would be domestic or cross-border.
They also have not explained how USDC would be converted to Colombian pesos. Fees, processing times and whether settlement would happen on a public blockchain were not disclosed.
Circle and ACI said the project will help institutions judge how digital assets can work alongside traditional payment networks. Neither company has given a schedule for a commercial launch.
