SAP's Tereina Partnership Enables Circle's USDC and EURC Stablecoin Payments
Through its collaboration with Tereina, which has SAP backing, Circle enables companies to transact using its stablecoins directly within their existing financial management systems.
Through a collaboration with Tereina, a financial services provider that has the backing of SAP, the German enterprise software powerhouse, Circle is introducing its USDC and EURC stablecoins into corporate payment systems.
The new integration enables companies that utilize SAP's financial management software to transact using USDC and EURC directly through the platforms they currently employ for payment processing. For transactions denominated in dollars, USDC will serve as the primary stablecoin option, whereas EURC will be made available for payments conducted in euros.
Companies can leverage payment infrastructure from Tereina that embeds directly into their business applications, enabling them to process payments without the need to navigate to a different financial system. According to both Tereina and Circle, the stablecoin integration will undergo customer testing in the months ahead, with use cases including international payments and corporate treasury management functions.
The announcement notes that SAP's ecosystem is responsible for 84% of global commerce, which positions this integration to potentially reach a wide array of enterprise clients.
This development follows less than one month after Circle unveiled the mainnet launch of Arc, its proprietary layer-1 blockchain designed specifically for stablecoin-based payments and financial market applications. Arc utilizes USDC as its native token for processing transaction fees and provides support for more than 20 stablecoins backed by fiat currencies, which includes both USDC and EURC.