Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using USDC, CEO Jeremy Allaire said Saturday.

The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC. The firm’s treasury team used the system to carry out intercompany transfer pricing — routine internal payments between subsidiaries — that would normally be handled via bank wires.

Those transfers often take one to three days to settle and depend on banking hours and cut-off windows. Meanwhile, stablecoin settlement runs around the clock, and the company completed the transfers in under 30 minutes, Allaire said in the X post.

In the first month of using the setup, Circle moved more than $68 million across 11 transactions between eight entities. The firm said roughly 90% of its transfer pricing activity was completed within a single day.

Treasury teams executed the payments using role-based permissions and approval workflows inside Mint, a setup designed to mirror controls common in corporate banking portals. The platform also produces transaction-level reports aligned with bank statement standards, allowing accounting teams to reconcile onnchain transfers with internal ledgers and external accounting systems.

One persistent challenge in intercompany transfers is “cash in transit,” where funds leave one entity but cannot yet be booked as available by the recipient while the payment clears. Stablecoin settlement shortens that gap because transfers confirm within minutes.

Circle said upcoming updates to Mint will focus on multi-entity treasury operations, including easier transfers between accounts and APIs that connect transaction reporting with accounting systems such as Oracle.

The changes are scheduled to roll out in March, the firm said in a blog post.