Key Takeaways
- On October 27, Circle and ACI Worldwide unveiled a proof-of-concept for USDC stablecoin settlement.
- The initiative connects Circle’s stablecoin infrastructure with ACI’s Connetic payment processing system.
- Colombia was selected as the pilot market due to ACI’s role in building the Bre-B instant payment infrastructure.
- Participating financial institutions, timeline, and transaction capacity remain undisclosed.
- The initiative demonstrates how traditional banks can incorporate stablecoin settlement without replacing legacy systems.
Circle Internet Group has joined forces with ACI Worldwide to launch a pilot program that will enable banks to process payment settlements through USDC, Circle’s dollar-pegged stablecoin. Colombia will serve as the initial testing location.
The partnership was revealed on October 27. Both organizations characterized the initiative as a proof-of-concept phase, indicating it remains an experimental trial rather than a fully operational commercial product.
The pilot links Circle’s USDC technology with ACI Connetic, a cloud-native platform that orchestrates payment flows across multiple systems, including credit and debit card networks, conventional bank transfers, and blockchain-based assets.
Technical Framework of the Stablecoin Settlement Initiative
The objective is to demonstrate how banks can incorporate stablecoin-based settlement into their existing operational toolkit. This encompasses payment processing infrastructure, corporate treasury systems, and compliance monitoring tools.
According to the companies, participating banks will retain their current technology stack. The USDC settlement capability will operate in parallel with traditional payment channels through a unified interface.
Craig Ramsey, who leads global account-to-account payments at ACI Worldwide, explained that financial institutions are seeking tangible applications for digital assets. “The conversation around stablecoins is moving from possibility to practicality,” he noted.
Ramsey emphasized that banks want to understand how blockchain-based settlement can integrate with “the infrastructure and operating models they already trust.”
Kash Razzaghi, serving as Circle’s chief commercial officer, observed that Latin American financial institutions are actively evaluating stablecoins for payment and settlement use cases. He described the pilot as “a practical path” for these organizations to assess USDC integration.
Strategic Rationale Behind Colombia Selection
Colombia emerged as the pilot location because ACI developed the core technology powering Bre-B, the nation’s real-time payment system, in collaboration with Banco de la República, Colombia’s monetary authority.
ACI operates the network’s participant registry, its round-the-clock clearing and settlement infrastructure, and the connectivity layer for member institutions. According to ACI’s March disclosure, Bre-B had handled over 500 million transactions during its initial five-month period.
These figures reflect Bre-B’s conventional payment volume only. The stablecoin pilot has not yet disclosed any USDC settlement metrics or participant engagement data.
The collaboration introduces an additional settlement mechanism. The companies have not indicated that current Bre-B payments will transition to blockchain-based processing.
Colombia has already seen limited stablecoin adoption. Last September, MoneyGram introduced a Visa-branded card in the country that allows qualified users to maintain dollar-denominated balances and make purchases.
Circle has also announced intentions to expand into approximately 40 emerging and frontier markets. CEO Jeremy Allaire identified Latin America as a region showing significant interest, though Circle has not provided specific market entry timelines.
Numerous aspects of the Colombian pilot remain undisclosed. The companies have not identified which banks will participate or clarified whether the system will handle domestic payments, international transfers, or both.
The mechanism for exchanging USDC into Colombian pesos has not been explained. Information about transaction fees, settlement speeds, and whether settlements will occur on public blockchain networks was not provided.
Circle and ACI stated the pilot will enable institutions to evaluate how blockchain-based assets can coexist with established payment infrastructure. Neither organization has published a timeline for commercial deployment.
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