ACI Worldwide and Circle have teamed up to bring USDC stablecoin settlement to Colombia, marking a significant step in the modernization of payments in Latin America. The partnership aims to integrate stablecoin settlement into existing financial infrastructure, addressing the need for practical implementation beyond individual pilot projects.
Craig Ramsey, Global Head of Account-to-Account Payments at ACI Worldwide, emphasizes the importance of preparing for digital assets as the next wave of payments modernization. He notes that financial institutions must consider how these assets can reshape their products and services, rather than focusing solely on the underlying technology.
The initiative will initially focus on Colombia, where a pilot program will complement the country’s existing payments structure. ACI Connetic, ACI’s cloud-native payments orchestration platform, will facilitate USDC settlement alongside Bre-B, Colombia’s instant-payments network. This approach ensures that the integration aligns with pre-existing infrastructure, simplifying the adoption of stablecoin capabilities.
Kash Razzaghi, Chief Commercial Officer of Circle, highlights the need for a bank-grade route for using stablecoins in Latin America. The partnership between ACI Worldwide and Circle aims to turn the potential of stablecoins into practical applications that customers can use, focusing on existing payment rails, treasury operations, governance frameworks, and settlement processes.