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FinClusive Announces Launch of USDC Payments on the Stellar Blockchain

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The blog of Stellar Development Foundation ad a collaboration with FinClusive to “create solutions that facilitate the future of banking”. Through cooperation, partners will employ a holistic approach to enable companies to make payments with the coin stable USDC Coin (USDC). In addition, the association will allow:

(…) The incorporation of fulfillment as a service (CaaS) and accounts and payments (A&P) creates confidence among market participants in the implementation of crypto-based transactions and sets the stage for new innovations.

Stellar's new partner is a hybrid company between a fintech and a regulatory entity. FinClusive provides its clients with a platform that complies with the rules related to financial crimes. It also gives access to traditional payment services and others based on blockchain technology. The post adds:

FinClusive's A&P application acts as a US-based entry / exit ramp for virtual asset transactions and offers a comprehensive and integrated CaaS solution, making it ideal as a USDC anchor for cross-border transactions at the same time. that ensures essential risk and compliance controls.

In addition, FinClusive covers the Know Your Customer and Anti-Money Laundering (AML) procedures required for these types of transactions. Therefore, users will be able to have multiple use cases to interact in a compatible environment within the Stellar Lumens network.

Stellar Interoperability with SWIFT and ACH

According to the blog, there is currently a high demand among businesses to use stablecoin payment solutions. This is because this asset class offers stability and liquidity in combination with “execution features” and users do not have to worry about fluctuations in the USDC price.

By offering a compliant solution, partners hope to eventually bridge Stellar to traditional pay rails such as SWIFT and ACH. Therefore, they will be able to play a role in determining the "success of new financial services."

As a final goal, the association will allow traditional finance companies and companies in the cryptocurrency industry, among others, to be “empowered” to address the current regulatory landscape and be able to carry out secure transactions. The post concludes:

As they continue to expand their services and operate globally, financial crime compliance (FCC) frameworks must be more universally applicable, reflect the operational realities of this globalized system, and incentivize self-governance for the benefit and safety of all .



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