Gate News: On March 7, Circle CEO Jeremy Allaire revealed that Circle has completed internal entity-to-entity transfers using USDC through the Circle Mint platform, replacing traditional bank wire transfers. In the first month, Circle transferred over $68 million across 11 transactions between 8 entities. About 90% of these internal transfer activities were completed within a day, whereas traditional bank wire transfers typically take 1 to 3 days. The platform supports role-based permission approval workflows and generates transaction reports that meet bank statement standards, making it easier for accounting teams to reconcile on-chain transfers with internal ledgers and external accounting systems. Circle stated that Circle Mint will launch an update in March for multi-entity fund management, including optimized inter-account transfers and API integrations with accounting systems like Oracle.
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